Heartland Advisors Inc. Purchases 21,187 Shares of The PNC Financial Services Group, Inc $PNC

Heartland Advisors Inc. lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 45.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,645 shares of the financial services provider’s stock after purchasing an additional 21,187 shares during the period. Heartland Advisors Inc.’s holdings in The PNC Financial Services Group were worth $13,592,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PNC. Norges Bank bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $1,477,836,000. Viking Global Investors LP purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $442,871,000. AQR Capital Management LLC lifted its holdings in 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 worth $622,450,000 after acquiring an additional 1,917,530 shares during the period. Federated Hermes Inc. boosted its position in The PNC Financial Services Group by 43.8% in the second quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after purchasing an additional 845,148 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of The PNC Financial Services Group by 491.7% during the 2nd quarter. Marshall Wace LLP now owns 1,005,926 shares of the financial services provider’s stock valued at $187,525,000 after purchasing an additional 835,926 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 0.1%

NYSE:PNC opened at $229.54 on Tuesday. The firm has a market capitalization of $90.02 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.96 and a beta of 0.99. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $219.49 and a 200 day moving average of $202.27.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.77 earnings per share. On average, research analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PNC. Oppenheimer boosted their price target on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. lifted their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Truist Financial lifted their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Barclays upped their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Company 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.