Foresight Capital Management Advisors Inc. Boosts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Foresight Capital Management Advisors Inc. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,621 shares of the financial services provider’s stock after buying an additional 693 shares during the period. The PNC Financial Services Group makes up about 1.9% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 23rd largest position. Foresight Capital Management Advisors Inc.’s holdings in The PNC Financial Services Group were worth $3,205,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Valley Wealth Managers Inc. raised its stake in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Quarry LP raised its stake in shares of The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth approximately $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in shares of The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. Evercore ISI raised their price target 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. Truist Financial initiated coverage on shares of The PNC Financial Services Group in a research report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Stephens lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $203.29.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock valued at $6,164,890 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 2.2 %

Shares of PNC opened at $200.07 on Thursday. The business’s 50-day moving average price is $201.75 and its 200 day moving average price is $186.58. The stock has a market capitalization of $79.38 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.20%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

The PNC Financial Services Group Profile

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.