Inscription Capital LLC Acquires Shares of 1,674 The PNC Financial Services Group, Inc (NYSE:PNC)

Inscription Capital LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 1,674 shares of the financial services provider's stock, valued at approximately $271,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $299,864,000. GAMMA Investing LLC lifted its stake in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after acquiring an additional 1,143,079 shares during the period. Schroder Investment Management Group lifted its stake in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after acquiring an additional 860,554 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after acquiring an additional 726,115 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNC. Royal Bank Of Canada decreased their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $2.34 during trading hours on Friday, hitting $177.61. 5,430,681 shares of the company's stock were exchanged, compared to its average volume of 2,078,282. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The firm has a market cap of $70.26 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.49 and a beta of 1.06. The firm has a 50 day moving average of $169.10 and a two-hundred day moving average of $180.97. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.60%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now owns 2,009 shares in the company, valued at $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer now directly owns 554,879 shares of the company's stock, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,670 shares of company stock worth $2,099,398 in the last 90 days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Company 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.