7,007 Shares in The PNC Financial Services Group, Inc $PNC Bought by Caerus Investment Advisors LLC

Caerus Investment Advisors LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,007 shares of the financial services provider’s stock, valued at approximately $1,408,000. The PNC Financial Services Group accounts for about 0.6% of Caerus Investment Advisors LLC’s portfolio, making the stock its 21st biggest holding.

Several other large investors have also added to or reduced their stakes in PNC. Brighton Jones LLC boosted its position in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC lifted its stake in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after acquiring an additional 170 shares during the period. Sivia Capital Partners LLC lifted its stake in The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 1,449 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 32.9% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,543 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 630 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of The PNC Financial Services Group by 507.4% in the 2nd quarter. SG Americas Securities LLC now owns 31,555 shares of the financial services provider’s stock valued at $5,882,000 after acquiring an additional 26,360 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. This trade represents a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. This represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 64,186 shares of company stock worth $14,840,973. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PNC shares. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Oppenheimer increased their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. TD Cowen lifted their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Truist Financial boosted their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada upped their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Fifteen investment 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $204.03 on Wednesday. The company’s fifty day moving average price is $220.96 and its 200 day moving average price is $205.22. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a market capitalization of $82.30 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81.

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

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

The PNC Financial Services Group Company Profile

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.