15,267 Shares in The PNC Financial Services Group, Inc $PNC Purchased by Oath Planning LLC

Key Points

• Oath Planning LLC bought 15,267 shares of PNC Financial Services in the fourth quarter, a position valued at about $3.19 million. The stock now represents roughly 3.1% of the firm’s portfolio and is its 9th largest holding.
• PNC’s latest quarterly results beat earnings expectations, with EPS of $4.32 versus the expected $3.92, while revenue rose 13.1% year over year to $6.17 billion. The company also maintained solid profitability, with a 12.10% return on equity.
• The company declared a quarterly dividend of $1.70 per share, or $6.80 annually, which works out to a 2.9% yield. Meanwhile, analysts remain moderately positive, with a consensus rating of “Moderate Buy” and a price target of $243.11.

Oath Planning LLC purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,267 shares of the financial services provider's stock, valued at approximately $3,187,000. The PNC Financial Services Group makes up about 3.1% of Oath Planning LLC's investment portfolio, making the stock its 9th largest holding.

Other hedge funds have also bought and sold shares of the company. Quarry LP acquired a new position in The PNC Financial Services Group in the third quarter worth about $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth about $29,000. Beacon Financial Strategies CORP bought a new position in The PNC Financial Services Group in the fourth quarter worth about $35,000. Cornerstone Planning Group LLC lifted its holdings in The PNC Financial Services Group by 2,100.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider's stock worth $39,000 after acquiring an additional 168 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new position in The PNC Financial Services Group in the third quarter worth about $37,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Oppenheimer raised their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Truist Financial raised their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a "hold" rating in a report on Thursday, April 16th. Citigroup raised their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $243.11.

The PNC Financial Services Group Stock Performance

PNC opened at $234.12 on Friday. The business's 50 day moving average is $220.29 and its 200-day moving average is $215.95. The stock has a market cap of $94.02 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a twelve month low of $172.73 and a twelve month high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 earnings per share. On average, analysts predict that The PNC Financial Services Group, Inc will post 18.93 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 Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's payout ratio is 39.51%.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares of the company's stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.38% of the company's stock.

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.

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