Redhawk Wealth Advisors Inc. Has $856,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Redhawk Wealth Advisors Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,436 shares of the financial services provider’s stock after acquiring an additional 176 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in The PNC Financial Services Group were worth $856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Roble Belko & Company Inc grew its holdings in The PNC Financial Services Group by 160.8% during the fourth quarter. Roble Belko & Company Inc now owns 1,622 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 1,000 shares during the period. Laurel Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 44.4% during the 4th quarter. Laurel Wealth Advisors LLC now owns 338 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 104 shares during the period. Park Avenue Securities LLC increased its holdings in shares of The PNC Financial Services Group by 20.8% during the 4th quarter. Park Avenue Securities LLC now owns 11,297 shares of the financial services provider’s stock worth $2,179,000 after acquiring an additional 1,943 shares during the last quarter. Kathmere Capital Management LLC raised its stake in The PNC Financial Services Group by 5.0% in the 4th quarter. Kathmere Capital Management LLC now owns 7,994 shares of the financial services provider’s stock valued at $1,542,000 after acquiring an additional 380 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 2.1 %

Shares of The PNC Financial Services Group stock opened at $196.23 on Friday. The firm’s 50-day moving average price is $201.65 and its two-hundred day moving average price is $186.67. The company has a market capitalization of $77.86 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.77 and a beta of 1.16. 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 PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm posted $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.26%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now directly owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction 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 in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock worth $5,928,202 in the last ninety days. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PNC shares. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup upped 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 report on Monday, November 25th. Truist Financial started coverage on The PNC Financial Services Group in a report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price target for the company. Finally, Stephens upped their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $203.29.

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.