13,283 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,283 shares of the financial services provider's stock, valued at approximately $2,562,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $330,000. Miracle Mile Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $500,000. SeaCrest Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 11.7% in the fourth quarter. SeaCrest Wealth Management LLC now owns 2,151 shares of the financial services provider's stock worth $415,000 after acquiring an additional 225 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of The PNC Financial Services Group by 20.8% during the fourth quarter. Park Avenue Securities LLC now owns 11,297 shares of the financial services provider's stock valued at $2,179,000 after acquiring an additional 1,943 shares in the last quarter. Finally, Laurel Wealth Advisors LLC increased its stake in The PNC Financial Services Group by 44.4% during the 4th quarter. Laurel Wealth Advisors LLC now owns 338 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The shares were bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the transaction, the chief executive officer now owns 571,025 shares of the company's stock, valued at approximately $109,893,761.25. This represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,638 shares of company stock worth $3,012,095 in the last three months. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $1.28 during mid-day trading on Tuesday, hitting $177.36. 1,084,237 shares of the company were exchanged, compared to its average volume of 2,466,703. The company has a 50 day moving average of $165.01 and a 200-day moving average of $186.13. 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 debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $70.16 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Analysts expect 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 business also recently disclosed 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 of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The PNC Financial Services Group's payout ratio is 45.20%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Royal Bank of Canada cut their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial lowered their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

About The PNC Financial Services Group

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.