Teamwork Financial Advisors LLC Buys Shares of 65,690 The PNC Financial Services Group, Inc $PNC

Teamwork Financial Advisors LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 65,690 shares of the financial services provider’s stock, valued at approximately $13,711,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. Quarry LP bought a new position in The PNC Financial Services Group during the 3rd quarter valued at $25,000. Westfuller Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth about $34,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth about $37,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $39,000. Finally, Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the third quarter worth about $42,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. Truist Financial lifted their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Morgan Stanley increased their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. TD Cowen lifted their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Finally, Wells Fargo & Company upped their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $234.44.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 64,186 shares of company stock worth $14,840,973. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $201.71 on Monday. The company has a market cap of $81.37 billion, a PE ratio of 12.16, a P/E/G ratio of 0.90 and a beta of 0.98. 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 firm has a 50-day simple moving average of $220.00 and a 200 day simple moving average of $205.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

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

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

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.