5,015 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Jump Financial LLC

Jump Financial LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,015 shares of the financial services provider’s stock, valued at approximately $616,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. State Street Corp lifted its position in The PNC Financial Services Group by 1.0% in the second quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock worth $2,157,151,000 after buying an additional 170,387 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after buying an additional 860,489 shares during the period. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 615.1% during the second quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock valued at $1,086,142,000 after buying an additional 7,417,830 shares during the period. Geode Capital Management LLC grew its stake in The PNC Financial Services Group by 2.1% in the second quarter. Geode Capital Management LLC now owns 7,369,554 shares of the financial services provider’s stock valued at $925,399,000 after purchasing an additional 150,470 shares during the last quarter. Finally, Morgan Stanley grew its stake in The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after purchasing an additional 1,045,055 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $147.93 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.70. The firm has a market capitalization of $58.93 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. The stock’s 50-day simple moving average is $149.69 and its 200-day simple moving average is $132.44.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the business posted $3.49 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s payout ratio is 48.48%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 target price on the stock in a research note on Thursday, December 14th. Piper Sandler lifted their price target on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $146.59.

Get Our Latest Stock Analysis on PNC

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,533 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the transaction, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at approximately $2,264,860.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

About The PNC Financial Services Group

(Free Report)

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 certificates of 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.

Featured Articles

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNCFree Report).

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.