HighTower Advisors LLC Has $73.66 Million Stock Position in The PNC Financial Services Group, Inc $PNC

HighTower Advisors LLC cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 366,588 shares of the financial services provider’s stock after selling 4,851 shares during the period. HighTower Advisors LLC owned approximately 0.09% of The PNC Financial Services Group worth $73,660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kennebec Savings Bank grew its position in shares of The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after buying an additional 54 shares during the period. Winthrop Capital Management LLC increased its stake in The PNC Financial Services Group by 2.1% in the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 55 shares in the last quarter. SCS Capital Management LLC increased its stake in The PNC Financial Services Group by 0.6% in the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock valued at $1,590,000 after purchasing an additional 55 shares in the last quarter. Webster Bank N. A. raised its holdings in The PNC Financial Services Group by 0.5% in the third quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock worth $2,205,000 after purchasing an additional 55 shares during the period. Finally, YANKCOM Partnership boosted its position in shares of The PNC Financial Services Group by 2.3% during the third quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PNC. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. TD Cowen boosted their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Finally, Truist Financial boosted their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Fifteen 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Down 0.1%

PNC stock opened at $229.54 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The stock 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 business has a 50-day moving average of $219.49 and a 200-day moving average of $202.27. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the firm earned $3.77 EPS. The PNC Financial Services Group’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

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.