D.B. Root & Company LLC Takes $1.12 Million Position in The PNC Financial Services Group, Inc $PNC

D.B. Root & Company LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,562 shares of the financial services provider’s stock, valued at approximately $1,123,000.

Other institutional investors have also recently bought and sold shares of the company. Flavin Financial Services Inc. bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $3,439,000. Ally Financial Inc. bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $1,724,000. Cibc World Market Inc. bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth about $3,686,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $14,177,000. Finally, Osmosis Investment Management UK Ltd acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at about $3,539,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stacy M. Juchno sold 3,354 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. The trade was a 15.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 51,654 shares of company stock worth $11,552,661 in the last quarter. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Down 0.0%

Shares of PNC opened at $243.05 on Monday. The stock has a fifty day moving average price of $248.28 and a two-hundred day moving average price of $229.35. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96. The company has a market cap of $96.96 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.96 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the business earned $3.85 earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $2.00 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PNC shares. Oppenheimer increased their price target on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Truist Financial raised their target price on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Finally, Citigroup boosted their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $265.73.

The PNC Financial Services Group 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.