Tidal Investments LLC Has $2.30 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Tidal Investments LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,938 shares of the financial services provider's stock after selling 1,575 shares during the period. Tidal Investments LLC's holdings in The PNC Financial Services Group were worth $2,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in The PNC Financial Services Group in the fourth quarter worth $1,352,151,000. Leigh Baldwin & CO. LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $299,864,000. Schroder Investment Management Group lifted its position 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 worth $265,436,000 after buying an additional 860,554 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 worth $1,453,763,000 after acquiring an additional 726,115 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after acquiring an additional 710,311 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Truist Financial dropped their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Trading Up 0.3%

Shares of NYSE PNC opened at $172.84 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a market cap of $68.37 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.55 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 1.13. The company's fifty day moving average is $165.15 and its 200-day moving average is $185.88.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.70%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now directly owns 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the transaction, the chief executive officer now directly owns 569,783 shares of the company's stock, valued at $108,361,330.94. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,396 shares of company stock worth $2,773,072. Company 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.

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