Pines Wealth Management LLC Invests $1.26 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pines Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,655 shares of the financial services provider’s stock, valued at approximately $1,258,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loomis Sayles & Co. L P grew its position in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares during the period. Altman Advisors Inc. increased its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the period. Finally, Valley Brook Capital Group Inc. increased its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 57 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,272 shares of company stock valued at $6,164,890 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PNC shares. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays raised their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial assumed coverage on shares of The PNC Financial Services Group in a report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $203.29.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $195.81 on Wednesday. The company has a market cap of $77.69 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The business has a 50 day moving average price of $201.75 and a 200-day moving average price of $186.58.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.60 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.27%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.