Accurate Wealth Management LLC Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Accurate Wealth Management LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.4% in the fourth quarter, Holdings Channel reports. The firm owned 8,308 shares of the financial services provider’s stock after purchasing an additional 347 shares during the period. Accurate Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,571,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNC. State Street Corp boosted its stake in The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after buying an additional 100,573 shares during the period. Franklin Resources Inc. raised its holdings in shares of The PNC Financial Services Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after acquiring an additional 123,994 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after acquiring an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after acquiring an additional 18,397 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after purchasing an additional 223,955 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PNC. Truist Financial assumed coverage on shares of The PNC Financial Services Group in a research note on Tuesday, January 7th. They issued a “hold” rating and a $215.00 target price on the stock. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $203.29.

Insider Activity

In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now directly owns 546,007 shares in the company, valued at $104,052,553.99. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,272 shares of company stock valued at $6,164,890. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $195.81 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The business’s 50 day simple moving average is $201.75 and its two-hundred day simple moving average is $186.58. The stock has a market capitalization of $77.69 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 earnings per share. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.