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Ascent Wealth Partners LLC Boosts Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

The PNC Financial Services Group logo with Finance background

Ascent Wealth Partners LLC boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 100.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the financial services provider's stock after acquiring an additional 2,000 shares during the quarter. Ascent Wealth Partners LLC's holdings in The PNC Financial Services Group were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Brighton Jones LLC raised its position in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after acquiring an additional 984 shares during the period. Parallel Advisors LLC grew its stake in shares of The PNC Financial Services Group by 5.9% in the fourth quarter. Parallel Advisors LLC now owns 3,732 shares of the financial services provider's stock valued at $720,000 after buying an additional 209 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in The PNC Financial Services Group by 6.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,502 shares of the financial services provider's stock worth $3,954,000 after purchasing an additional 1,261 shares during the period. Horizon Investments LLC boosted its position in The PNC Financial Services Group by 1.5% during the fourth quarter. Horizon Investments LLC now owns 12,366 shares of the financial services provider's stock worth $2,365,000 after purchasing an additional 177 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in The PNC Financial Services Group during the fourth quarter worth $6,077,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 0.3%

PNC traded up $0.55 during trading hours on Friday, reaching $196.54. 2,548,240 shares of the company's stock traded hands, compared to its average volume of 2,143,477. The firm has a 50-day moving average price of $181.79 and a 200 day moving average price of $180.27. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $77.75 billion, a PE ratio of 13.44, a PEG ratio of 1.54 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The PNC Financial Services Group's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.39 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.46%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 48.02%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PNC shares. Barclays dropped their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Truist Financial boosted their price target on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Tuesday, July 8th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Citigroup increased their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $212.76.

Check Out Our Latest Analysis on The PNC Financial Services Group

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director owned 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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