The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Kathmere Capital Management LLC

Kathmere Capital Management LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,994 shares of the financial services provider’s stock after acquiring an additional 380 shares during the period. Kathmere Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,542,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PNC. Parallel Advisors LLC raised its position in The PNC Financial Services Group by 8.4% in the 2nd quarter. Parallel Advisors LLC now owns 3,594 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 277 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of The PNC Financial Services Group by 5.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 24,146 shares of the financial services provider’s stock valued at $3,754,000 after buying an additional 1,236 shares during the last quarter. WINTON GROUP Ltd raised its holdings in shares of The PNC Financial Services Group by 32.3% in the second quarter. WINTON GROUP Ltd now owns 6,453 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 1,576 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of The PNC Financial Services Group by 5.6% during the second quarter. Brown Brothers Harriman & Co. now owns 21,914 shares of the financial services provider’s stock worth $3,407,000 after buying an additional 1,159 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after buying an additional 100,993 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $195.81 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $77.69 billion, a P/E ratio of 16.55, a PEG ratio of 2.11 and a beta of 1.16. The firm has a fifty day moving average of $201.75 and a 200-day moving average of $186.58. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

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

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.27%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the transaction, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,272 shares of company stock valued at $6,164,890. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. Stephens lifted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note 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 company an “overweight” rating in a research report on Friday, November 15th. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group 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.