The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 173,648 shares of the financial services provider's stock after buying an additional 6,972 shares during the period. The PNC Financial Services Group comprises approximately 3.4% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 7th biggest position. Matrix Asset Advisors Inc. NY's holdings in The PNC Financial Services Group were worth $26,889,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at about $25,000. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the period. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $29,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.3 %

Shares of PNC stock traded up $0.50 during trading hours on Friday, reaching $157.38. 1,873,983 shares of the stock traded hands, compared to its average volume of 2,184,692. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The business has a fifty day moving average price of $151.09 and a 200 day moving average price of $139.62. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $62.61 billion, a PE ratio of 12.28, a PEG ratio of 1.81 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The firm's revenue was down 7.0% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.41 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group's payout ratio is presently 48.48%.

Analyst Ratings Changes

PNC has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a "neutral" rating in a research note on Friday, December 8th. UBS Group upped their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a "neutral" rating in a research note on Thursday, January 18th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an "underperform" rating in a report on Friday. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "reduce" rating to a "hold" rating and boosted their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Hold" and a consensus target price of $154.62.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company's stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by insiders.

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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