The PNC Financial Services Group, Inc $PNC Shares Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,094 shares of the financial services provider's stock after purchasing an additional 17,835 shares during the period. Focus Partners Advisor Solutions LLC's holdings in The PNC Financial Services Group were worth $10,247,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in The PNC Financial Services Group by 13.4% during the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock worth $57,714,000 after acquiring an additional 34,009 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock valued at $8,114,168,000 after buying an additional 408,464 shares during the period. Truist Financial Corp boosted its holdings in shares of The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider's stock valued at $259,344,000 after buying an additional 39,589 shares during the period. Teamwork Financial Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $13,711,000. Finally, Candriam S.C.A. boosted its holdings in shares of The PNC Financial Services Group by 8.0% in the 3rd quarter. Candriam S.C.A. now owns 178,811 shares of the financial services provider's stock valued at $35,928,000 after buying an additional 13,321 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Oppenheimer lifted their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Truist Financial lifted their price target 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. Finally, Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a "buy" rating and a $250.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $243.11.

The PNC Financial Services Group Trading Down 0.6%

Shares of NYSE:PNC opened at $227.02 on Tuesday. The company has a market cap of $91.17 billion, a PE ratio of 13.19, a P/E/G ratio of 0.95 and a beta of 0.92. The company's 50-day moving average price is $218.55 and its 200 day moving average price is $214.93. The PNC Financial Services Group, Inc has a fifty-two week low of $172.73 and a fifty-two week high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

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

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 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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