Smartleaf Asset Management LLC Has $2.18 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Smartleaf Asset Management LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 29.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,773 shares of the financial services provider’s stock after purchasing an additional 2,419 shares during the quarter. Smartleaf Asset Management LLC’s holdings in The PNC Financial Services Group were worth $2,175,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank increased its holdings in The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after purchasing an additional 54 shares in the last quarter. Almanack Investment Partners LLC. lifted its position in The PNC Financial Services Group by 2.3% during the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after buying an additional 55 shares in the last quarter. Winthrop Capital Management LLC lifted its position in The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after buying an additional 55 shares in the last quarter. SCS Capital Management LLC grew its holdings in The PNC Financial Services Group by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after acquiring an additional 55 shares during the last quarter. Finally, Webster Bank N. A. increased its position in The PNC Financial Services Group by 0.5% in the 3rd quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock valued at $2,205,000 after acquiring an additional 55 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

PNC stock opened at $242.53 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The business’s fifty day moving average is $214.89 and its 200-day moving average is $200.55. The company has a market cap of $95.11 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 2.8%. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Truist Financial lifted their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.00.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.