Twin Capital Management Inc. Increases Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Twin Capital Management Inc. boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 243.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,833 shares of the financial services provider's stock after purchasing an additional 3,425 shares during the period. Twin Capital Management Inc.'s holdings in The PNC Financial Services Group were worth $849,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PNC. Mechanics Financial Corp acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $739,000. Premier Fund Managers Ltd lifted its stake in The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock valued at $9,511,000 after acquiring an additional 13,700 shares during the period. PKS Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $357,000. Finally, Exane Asset Management lifted its stake in The PNC Financial Services Group by 32.9% during the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock valued at $28,434,000 after acquiring an additional 37,110 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $0.50 during trading hours on Monday, reaching $196.02. 1,825,168 shares of the company's stock were exchanged, compared to its average volume of 2,144,241. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market capitalization of $77.54 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The business has a fifty day moving average of $182.39 and a two-hundred day moving average of $180.13. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the prior year, the firm posted $3.39 earnings per share. The PNC Financial Services Group's quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.47%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president directly owned 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the sale, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,904 shares of company stock valued at $1,493,609. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their target price for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday. Truist Financial boosted their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, Citigroup boosted their target price on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $212.76.

The PNC Financial Services Group 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.