The PNC Financial Services Group, Inc $PNC Stock Holdings Lifted by Global Retirement Partners LLC

Global Retirement Partners LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 41.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,690 shares of the financial services provider’s stock after buying an additional 5,473 shares during the quarter. Global Retirement Partners LLC’s holdings in The PNC Financial Services Group were worth $3,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at about $25,000. Westfuller Advisors LLC purchased a new position in The PNC Financial Services Group in the third quarter valued at about $34,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $35,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth about $37,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth about $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $219.50 on Friday. The PNC Financial Services Group, Inc has a twelve month low of $169.32 and a twelve month high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $88.14 billion, a PE ratio of 12.75, a P/E/G ratio of 0.91 and a beta of 0.94. The stock has a 50-day simple moving average of $214.39 and a 200 day simple moving average of $211.74.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the firm earned $3.51 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Analyst Ratings Changes

A number of brokerages have weighed in on PNC. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Truist Financial boosted their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Oppenheimer boosted their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Citigroup boosted their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

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.