ABN Amro Investment Solutions Acquires 7,258 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• ABN Amro Investment Solutions increased its stake in PNC by 19.1% in the fourth quarter, buying 7,258 additional shares and bringing its total holdings to 45,214 shares worth about $9.44 million.
• Several other institutional investors also added to PNC positions, and institutional ownership now stands at 83.53% of the company’s stock.
• PNC reported strong quarterly earnings of $4.32 per share, beating estimates, and analysts have a consensus Moderate Buy rating with a price target of $243.11.

ABN Amro Investment Solutions lifted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 19.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,214 shares of the financial services provider's stock after purchasing an additional 7,258 shares during the period. ABN Amro Investment Solutions' holdings in The PNC Financial Services Group were worth $9,438,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNC. YANKCOM Partnership increased its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after acquiring an additional 46 shares in the last quarter. Westfuller Advisors LLC increased its holdings in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after acquiring an additional 46 shares in the last quarter. Flavin Financial Services Inc. increased its holdings in The PNC Financial Services Group by 0.4% in the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider's stock worth $2,847,000 after acquiring an additional 48 shares in the last quarter. Almanack Investment Partners LLC. increased its holdings in The PNC Financial Services Group by 2.2% in the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider's stock worth $490,000 after acquiring an additional 50 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in The PNC Financial Services Group by 1.1% in the 4th quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider's stock worth $999,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Barclays increased their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a "hold" rating in a report on Thursday, April 16th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.11.

The PNC Financial Services Group Stock Up 0.8%

NYSE PNC opened at $218.54 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $87.76 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.90 and a beta of 0.94. The PNC Financial Services Group, Inc has a one year low of $169.32 and a one year high of $243.94. The stock has a 50 day moving average price of $214.11 and a 200-day moving average price of $211.69.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group's revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $3.51 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 39.51%.

The PNC Financial Services Group 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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