Resources Management Corp CT ADV Purchases 21,056 Shares of The PNC Financial Services Group, Inc $PNC

Resources Management Corp CT ADV boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 593.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,602 shares of the financial services provider’s stock after acquiring an additional 21,056 shares during the quarter. Resources Management Corp CT ADV’s holdings in The PNC Financial Services Group were worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in The PNC Financial Services Group by 13.4% during the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after buying an additional 34,009 shares in the last quarter. Truist Financial Corp grew its holdings in The PNC Financial Services Group by 3.3% during the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after buying an additional 39,589 shares in the last quarter. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares in the last quarter. Teamwork Financial Advisors LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $13,711,000. Finally, Stoneridge Investment Partners LLC grew its holdings in The PNC Financial Services Group by 59.1% during the 4th quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after buying an additional 8,818 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1%

PNC stock opened at $237.51 on Monday. The firm has a fifty day moving average price of $220.85 and a 200 day moving average price of $216.30. The PNC Financial Services Group, Inc has a fifty-two week low of $172.73 and a fifty-two week 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 firm has a market cap of $95.38 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the firm posted $3.51 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. Citigroup increased their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Oppenheimer raised their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by insiders.

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.