MainStreet Investment Advisors LLC Acquires New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

MainStreet Investment Advisors LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,760 shares of the financial services provider's stock, valued at approximately $339,000.

Several other institutional investors also recently bought and sold shares of PNC. Vanguard Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after buying an additional 268,827 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 buying an additional 726,115 shares during the last quarter. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $1,352,151,000. Finally, Northern Trust Corp increased its holdings in shares of The PNC Financial Services Group by 14.9% during the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after buying an additional 608,375 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the firm'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 value of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the firm's 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 completion of the sale, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,396 shares of company stock valued at $2,789,603 over the last quarter. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays dropped their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Truist Financial lowered their price target on 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. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Citigroup lowered their price target on 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. Finally, HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Stock Down 0.0%

Shares of PNC stock traded down $0.01 during trading hours on Friday, hitting $179.45. 2,215,742 shares of the company were exchanged, compared to its average volume of 2,050,969. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The business's 50-day simple moving average is $164.86 and its two-hundred day simple moving average is $186.20. The stock has a market capitalization of $70.98 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is currently 45.20%.

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.