Leigh Baldwin & CO. LLC Invests $299.86 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Leigh Baldwin & CO. LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,554,910 shares of the financial services provider's stock, valued at approximately $299,864,000. The PNC Financial Services Group makes up about 1.6% of Leigh Baldwin & CO. LLC's investment portfolio, making the stock its 15th largest position. Leigh Baldwin & CO. LLC owned 0.39% of The PNC Financial Services Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNC. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded down $0.01 during trading on Friday, hitting $179.45. The company had a trading volume of 2,215,742 shares, compared to its average volume of 2,047,065. The stock has a fifty day simple moving average of $164.86 and a two-hundred day simple moving average of $186.23. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market capitalization of $70.98 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.57%. The PNC Financial Services Group's payout ratio is presently 45.20%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PNC shares. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. TD Cowen started coverage on shares of The PNC Financial Services Group in a report on Thursday. They set a "buy" rating and a $233.00 target price for the company. Wells Fargo & Company reduced their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Truist Financial reduced their target price 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. Finally, Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director now directly owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 16,396 shares of company stock worth $2,789,603. 0.41% of the stock is owned by insiders.

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.