2,910 Shares in The PNC Financial Services Group, Inc $PNC Acquired by Myriad Asset Management US LP

Myriad Asset Management US LP purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,910 shares of the financial services provider’s stock, valued at approximately $585,000.

Several other large investors have also bought and sold shares of PNC. First Horizon Corp acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at about $8,360,000. Benjamin Edwards Inc. raised its position in The PNC Financial Services Group by 27.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 24,763 shares of the financial services provider’s stock valued at $4,977,000 after buying an additional 5,294 shares during the last quarter. Cullen Capital Management LLC lifted its stake in The PNC Financial Services Group by 3.8% during the 2nd quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock valued at $38,193,000 after acquiring an additional 7,478 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of The PNC Financial Services Group by 115.1% in the second quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock valued at $1,050,000 after purchasing an additional 3,013 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 134.9% during the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after purchasing an additional 1,917,530 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $221.98 on Friday. The stock has a fifty day moving average of $205.70 and a 200-day moving average of $198.05. The stock has a market cap of $87.05 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $227.78.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the business posted $3.77 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank Of Canada raised their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday. Barclays boosted their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.