IPG Investment Advisors LLC Purchases Shares of 7,302 The PNC Financial Services Group, Inc $PNC

Key Points

• IPG Investment Advisors LLC opened a new position in The PNC Financial Services Group, buying 7,302 shares worth about $1.52 million in the fourth quarter.
• PNC reported strong quarterly earnings, with EPS of $4.32 beating estimates by $0.40 and revenue rising 13.1% year over year. Analysts now expect the company to earn 18.93 EPS for the current fiscal year.
• The company also paid a quarterly dividend of $1.70 per share, equal to an annualized yield of about 3.1%. Wall Street remains generally positive, with a consensus rating of Moderate Buy and an average price target of $243.11.

IPG Investment Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,302 shares of the financial services provider's stock, valued at approximately $1,524,000.

Several other large investors have also made changes to their positions in the business. Kingsview Wealth Management LLC raised its stake in shares of The PNC Financial Services Group by 1.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 18,269 shares of the financial services provider's stock worth $3,813,000 after buying an additional 273 shares during the period. Smith Chas P & Associates PA Cpas raised its stake in shares of The PNC Financial Services Group by 145.0% during the 4th quarter. Smith Chas P & Associates PA Cpas now owns 2,908 shares of the financial services provider's stock worth $607,000 after buying an additional 1,721 shares during the period. Severin Investments LLC raised its stake in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Severin Investments LLC now owns 4,714 shares of the financial services provider's stock worth $984,000 after buying an additional 52 shares during the period. Texas Capital Bank Wealth Management Services Inc raised its stake in shares of The PNC Financial Services Group by 102.3% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 6,416 shares of the financial services provider's stock worth $1,339,000 after buying an additional 3,244 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider's stock worth $1,841,387,000 after buying an additional 30,078 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 0.0%

NYSE PNC opened at $220.86 on Thursday. The business has a fifty day moving average price of $215.54 and a 200 day moving average price of $212.73. The PNC Financial Services Group, Inc has a one year low of $170.49 and a one year high of $243.94. 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 cap of $88.69 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.92 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company earned $3.51 EPS. The firm's revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio is currently 39.51%.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. Truist Financial lifted their price objective on 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. Finally, Citigroup lifted their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.11.

About The PNC Financial Services Group

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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