The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 184.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 494,725 shares of the financial services provider's stock after acquiring an additional 320,510 shares during the period. AQR Capital Management LLC owned approximately 0.12% of The PNC Financial Services Group worth $95,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after purchasing an additional 22,271 shares during the period. Morse Asset Management Inc acquired a new position in The PNC Financial Services Group during the third quarter worth $481,000. Wealthquest Corp purchased a new position in The PNC Financial Services Group in the third quarter worth $212,000. Wilmington Savings Fund Society FSB lifted its holdings in The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider's stock valued at $6,367,000 after acquiring an additional 15,962 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of The PNC Financial Services Group by 3.7% during the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider's stock worth $2,631,000 after purchasing an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PNC shares. Truist Financial cut their price target 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. 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. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Barclays reduced 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. Finally, Royal Bank of Canada decreased their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $200.88.

The PNC Financial Services Group Trading Up 2.8 %

NYSE:PNC traded up $4.55 on Friday, reaching $165.54. The stock had a trading volume of 1,764,781 shares, compared to its average volume of 2,009,884. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a market cap of $65.51 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.55 and a beta of 1.06. The firm's fifty day moving average is $166.95 and its two-hundred day moving average is $187.35. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

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 business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.87%. The PNC Financial Services Group's payout ratio is currently 45.20%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $192.45, for a total transaction of $239,022.90. Following the transaction, the chief executive officer now directly owns 571,025 shares in the company, valued at $109,893,761.25. This represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average cost 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 approximately $317,863.98. The trade was a 99.11 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 12,420 shares of company stock worth $2,119,361. 0.41% of the stock is owned by company insiders.

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.