PUREfi Wealth LLC Takes $274,000 Position in The PNC Financial Services Group, Inc (NYSE:PNC)

PUREfi Wealth LLC purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,559 shares of the financial services provider's stock, valued at approximately $274,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Whipplewood Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $33,000. Opal Wealth Advisors LLC bought a new position in The PNC Financial Services Group in the 1st quarter worth about $35,000. REAP Financial Group LLC grew its position in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Hoey Investments Inc. bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 1.1%

The PNC Financial Services Group stock opened at $173.23 on Wednesday. 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 market cap of $68.52 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.47 and a beta of 1.06. 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 business has a 50-day simple moving average of $167.82 and a two-hundred day simple moving average of $181.67.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the transaction, the chief executive officer now owns 562,291 shares of the company's stock, valued at $84,624,795.50. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares of the company's stock, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,912 shares of company stock valued at $2,313,022. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PNC shares. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Truist Financial decreased their price objective on shares of 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. Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Finally, Morgan Stanley decreased their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $202.67.

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.

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