Savvy Advisors Inc. Has $850,000 Stake in The PNC Financial Services Group, Inc $PNC

Savvy Advisors Inc. raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 271.1% in the third quarter, Holdings Channel reports. The fund owned 4,230 shares of the financial services provider’s stock after purchasing an additional 3,090 shares during the quarter. Savvy Advisors Inc.’s holdings in The PNC Financial Services Group were worth $850,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group in the second quarter worth $27,000. Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at $34,000. FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group during the second quarter valued at $37,000. True Wealth Design LLC raised its position in shares of The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 204 shares in the last quarter. Finally, Bayforest Capital Ltd boosted its position in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 147 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $229.54 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The stock has a fifty day moving average of $218.84 and a 200-day moving average of $201.86. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $90.02 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.77 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PNC shares. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Truist Financial boosted their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada raised their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $234.44.

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.