Caprock Group LLC Has $5.28 Million Stake in The PNC Financial Services Group, Inc $PNC

Caprock Group LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 20.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,308 shares of the financial services provider’s stock after buying an additional 4,285 shares during the period. Caprock Group LLC’s holdings in The PNC Financial Services Group were worth $5,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in The PNC Financial Services Group by 12.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after purchasing an additional 6,572 shares during the period. US Bancorp DE boosted its position in The PNC Financial Services Group by 13.4% during the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after purchasing an additional 34,009 shares during the period. Envestnet Asset Management Inc. boosted its position in The PNC Financial Services Group by 1.2% during the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after purchasing an additional 22,325 shares during the period. National Pension Service boosted its position in The PNC Financial Services Group by 2.5% during the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after purchasing an additional 26,305 shares during the period. Finally, Savant Capital LLC boosted its position in The PNC Financial Services Group by 8.7% during the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after purchasing an additional 7,064 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 1.3%

PNC opened at $225.03 on Thursday. The PNC Financial Services Group, Inc has a twelve month low of $156.15 and a twelve month high of $243.94. The company has a 50-day simple moving average of $214.99 and a 200 day simple moving average of $207.13. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $90.77 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.95 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 earnings per share. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc will post 18.75 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Bank of America boosted their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Truist Financial boosted their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.69.

Insider Activity

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is owned by company insiders.

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.