20,793 Shares in The PNC Financial Services Group, Inc $PNC Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, HoldingsChannel.com reports. The fund purchased 20,793 shares of the financial services provider’s stock, valued at approximately $4,178,000.

Other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC raised its position in shares of The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after buying an additional 52 shares during the period. Rockland Trust Co. grew its position in The PNC Financial Services Group by 0.5% during the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 53 shares during the period. Kennebec Savings Bank increased its stake in The PNC Financial Services Group by 1.6% during the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 54 shares during the last quarter. Almanack Investment Partners LLC. raised its holdings in shares of The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 55 shares during the period. Finally, Winthrop Capital Management LLC raised its holdings in shares of The PNC Financial Services Group by 2.1% in the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 55 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Oppenheimer cut their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Finally, Truist Financial lifted their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.11.

The PNC Financial Services Group Stock Down 1.1%

Shares of NYSE:PNC opened at $208.68 on Friday. The company has a market capitalization of $81.84 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. The company has a 50 day moving average of $195.49 and a two-hundred day moving average of $194.51. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $214.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

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.