The PNC Financial Services Group, Inc $PNC Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,393 shares of the financial services provider’s stock after acquiring an additional 5,980 shares during the period. Pallas Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $11,771,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PNC. Norges Bank acquired 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 increased its holdings in shares of The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after purchasing an additional 5,581,102 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 134.9% in 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 during the last quarter. Wellington Management Group LLP lifted its position in The PNC Financial Services Group by 50.1% during the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock worth $700,305,000 after buying an additional 1,162,964 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in The PNC Financial Services Group by 43.8% during the second quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after buying an additional 845,148 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PNC. Truist Financial upped their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Royal Bank Of Canada upped their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, TD Cowen raised their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.16.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president directly owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 64,186 shares of company stock valued at $14,840,973. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 1.5%

The PNC Financial Services Group stock opened at $202.46 on Friday. The company has a market capitalization of $81.66 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 0.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, 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 $243.94. The firm has a 50 day moving average price of $218.90 and a 200 day moving average price of $205.11.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping 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 company 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 firm earned $3.77 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

More The PNC Financial Services Group News

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: Jefferies initiated/expanded coverage and raised its stance—setting a $250 price target and issuing a buy/strong-buy—boosting demand from investors who follow sell-side coverage. Zacks Jefferies Coverage MSN Jefferies Initiates
• Positive Sentiment: Schaeffer’s Weekend Trader flagged PNC as “poised for a relief rally” and circulated a specific options trade idea to subscribers—this type of options flow and positive trading idea can attract short-term traders and provide buying support. Schaeffer’s Article
• Positive Sentiment: Analyst consensus remains constructive—coverage summary shows a “moderate buy” consensus and analysts expect double-digit EPS growth into the next quarter, which supports medium-term fundamentals ahead of earnings. Analyst Consensus Earnings Preview
• Neutral Sentiment: Independent reviews and write-ups are circulating (analyst review sites and banking news) that summarize fundamentals and recent results—useful for retail investors but unlikely to move the stock materially on their own. Review Article
• Negative Sentiment: Oppenheimer trimmed its price target from $284 to $263 while keeping an “outperform” rating; the cut reduces upside expectations versus prior targets and can temper upside momentum even though the rating stayed positive. Benzinga Oppenheimer Note

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.