Advocate Group LLC Has $1.66 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Advocate Group LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.3% in the 4th quarter, Holdings Channel reports. The firm owned 10,745 shares of the financial services provider’s stock after selling 6,384 shares during the period. Advocate Group LLC’s holdings in The PNC Financial Services Group were worth $1,664,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $735,469,000. Moneta Group Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 122,771.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after purchasing an additional 2,538,916 shares during the period. Morgan Stanley increased its position in shares of The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after purchasing an additional 1,045,055 shares during the period. FMR LLC increased its position in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after purchasing an additional 860,489 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now 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 available at this hyperlink. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Up 1.0 %

Shares of PNC traded up $1.63 during trading hours on Friday, hitting $161.60. 1,725,504 shares of the stock traded hands, compared to its average volume of 2,433,371. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The firm has a market capitalization of $64.29 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The business has a fifty day moving average of $150.26 and a 200-day moving average of $138.41.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 12.41 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 48.48%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler upped their price target on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. Evercore ISI upped their price target on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday. Stephens reiterated an “equal weight” rating and issued a $138.00 price target on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $152.87.

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.