Childress Capital Advisors LLC Buys Shares of 353 The PNC Financial Services Group, Inc. (NYSE:PNC)

Childress Capital Advisors LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, Holdings Channel reports. The fund bought 353 shares of the financial services provider’s stock, valued at approximately $53,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in The PNC Financial Services Group by 9.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,391,754 shares of the financial services provider’s stock valued at $3,932,371,000 after purchasing an additional 2,230,186 shares during the period. FMR LLC grew its position in shares of The PNC Financial Services Group by 57.8% in the 4th quarter. FMR LLC now owns 8,399,370 shares of the financial services provider’s stock worth $1,251,506,000 after buying an additional 3,076,159 shares during the last quarter. Aristotle Capital Management LLC grew its position in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Aristotle Capital Management LLC now owns 5,826,993 shares of the financial services provider’s stock worth $868,222,000 after buying an additional 134,065 shares during the last quarter. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $671,132,000. Finally, Morgan Stanley grew its position in shares of The PNC Financial Services Group by 34.7% in the 4th quarter. Morgan Stanley now owns 3,388,311 shares of the financial services provider’s stock worth $504,860,000 after buying an additional 873,125 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group stock opened at $178.25 on Thursday. The PNC Financial Services Group, Inc. has a 52-week low of $89.13 and a 52-week high of $184.33. The firm has a market capitalization of $75.58 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 3.33 and a beta of 1.38. The company has a fifty day simple moving average of $175.00 and a 200-day simple moving average of $144.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 14th. The financial services provider reported $3.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.61. The PNC Financial Services Group had a net margin of 38.16% and a return on equity of 5.97%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 6.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Investors of record on Friday, April 16th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, April 15th. The PNC Financial Services Group’s dividend payout ratio is currently 40.39%.

In related news, EVP Guild Deborah sold 3,840 shares of the company’s stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of $151.37, for a total value of $581,260.80. Following the completion of the sale, the executive vice president now owns 18,804 shares of the company’s stock, valued at $2,846,361.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karen L. Larrimer sold 3,205 shares of the company’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $156.92, for a total transaction of $502,928.60. Following the completion of the sale, the executive vice president now directly owns 24,580 shares of the company’s stock, valued at approximately $3,857,093.60. The disclosure for this sale can be found here. Insiders sold 7,295 shares of company stock valued at $1,128,071 in the last three months. 0.30% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on PNC. TheStreet downgraded shares of The PNC Financial Services Group from a “b” rating to a “c+” rating in a research report on Friday, January 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of The PNC Financial Services Group from $157.00 to $190.00 and gave the stock a “hold” rating in a research report on Thursday, April 1st. Royal Bank of Canada lifted their price objective on shares of The PNC Financial Services Group from $135.00 to $161.00 in a research report on Tuesday, January 19th. Piper Sandler downgraded shares of The PNC Financial Services Group from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $162.00 to $167.00 in a research report on Wednesday, January 13th. Finally, Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $173.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $156.29.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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