Apeiron RIA LLC Acquires Shares of 1,141 The PNC Financial Services Group, Inc. (NYSE:PNC)

Apeiron RIA LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,141 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC increased its position in shares of 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. Concurrent Investment Advisors LLC grew its position in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group during the third quarter worth about $12,548,000. Bleakley Financial Group LLC raised its position in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in The PNC Financial Services Group in the second quarter valued at about $822,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $199.49 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $79.15 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The stock has a 50-day moving average price of $200.45 and a 200-day moving average price of $188.14.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.21%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,171 shares of company stock worth $5,777,926 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI boosted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays increased their price target on 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. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Piper Sandler increased their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.00.

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.