Schechter Investment Advisors LLC Acquires 134 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schechter Investment Advisors LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,361 shares of the financial services provider’s stock after purchasing an additional 134 shares during the period. Schechter Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $830,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blair William & Co. IL grew its holdings in shares of The PNC Financial Services Group by 0.5% during the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after purchasing an additional 89 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of The PNC Financial Services Group by 12.0% during the first quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock worth $2,977,000 after purchasing an additional 1,724 shares during the last quarter. Covestor Ltd grew its holdings in shares of The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 137 shares during the last quarter. West Family Investments Inc. grew its holdings in shares of The PNC Financial Services Group by 9.1% during the first quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 97 shares during the last quarter. Finally, Ergoteles LLC grew its holdings in shares of The PNC Financial Services Group by 137.9% during the first quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock worth $3,882,000 after purchasing an additional 12,201 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 3.2 %

Shares of The PNC Financial Services Group stock opened at $159.97 on Thursday. The stock has a fifty day simple moving average of $149.73 and a 200 day simple moving average of $138.10. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $160.10. The company has a market capitalization of $63.64 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, beating the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $3.49 EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.4 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 48.48%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Odeon Capital Group raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective on the stock in a research note on Thursday, December 14th. UBS Group lifted their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. The Goldman Sachs Group boosted 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 note on Tuesday, December 19th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $146.59.

About The PNC Financial Services Group

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 time 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.