Jones Financial Companies Lllp Acquires 8,190 Shares of The PNC Financial Services Group, Inc $PNC

Jones Financial Companies Lllp increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 20.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,367 shares of the financial services provider’s stock after purchasing an additional 8,190 shares during the period. Jones Financial Companies Lllp’s holdings in The PNC Financial Services Group were worth $9,619,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PNC. Norges Bank bought a new position in shares of The PNC Financial Services Group during the second quarter valued at about $1,477,836,000. Viking Global Investors LP purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at about $442,871,000. AQR Capital Management LLC boosted its holdings in The PNC Financial Services Group by 134.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after acquiring an additional 1,917,530 shares during the period. Federated Hermes Inc. grew its position in The PNC Financial Services Group by 43.8% during the 2nd quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after acquiring an additional 845,148 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in The PNC Financial Services Group by 491.7% in the 2nd quarter. Marshall Wace LLP now owns 1,005,926 shares of the financial services provider’s stock worth $187,525,000 after purchasing an additional 835,926 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Royal Bank Of Canada raised their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Barclays boosted their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $231.00.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $237.25 on Thursday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $240.37. The stock has a market capitalization of $93.04 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.98 and a beta of 0.99. The company’s 50-day moving average is $212.93 and its 200 day moving average is $199.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the business posted $3.77 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is 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.