Scientech Research LLC Takes $1.10 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Scientech Research LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,687 shares of the financial services provider's stock, valued at approximately $1,097,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNC. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Whipplewood Advisors LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $33,000. Institutional investors own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Truist Financial lowered their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective for the company. Barclays lowered their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the transaction, the chief executive officer now directly owns 571,025 shares of the company's stock, valued at approximately $109,893,761.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,638 shares of company stock worth $3,012,095. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.7%

Shares of The PNC Financial Services Group stock traded down $1.28 on Tuesday, reaching $177.36. The stock had a trading volume of 1,084,314 shares, compared to its average volume of 2,047,510. The company has a 50 day moving average price of $165.01 and a 200 day moving average price of $186.13. 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, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market capitalization of $70.16 billion, a P/E ratio of 12.90, 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 quarterly earnings data 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 the consensus estimate of $5.50 billion. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

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.