The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Baldwin Brothers LLC MA

Baldwin Brothers LLC MA lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 23.3% during the first quarter, Holdings Channel reports. The fund owned 83,274 shares of the financial services provider’s stock after buying an additional 15,748 shares during the quarter. The PNC Financial Services Group makes up 1.6% of Baldwin Brothers LLC MA’s holdings, making the stock its 20th largest holding. Baldwin Brothers LLC MA’s holdings in The PNC Financial Services Group were worth $15,360,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Gradient Investments LLC increased its stake in shares of The PNC Financial Services Group by 12.0% in the fourth quarter. Gradient Investments LLC now owns 476 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 51 shares during the period. Manchester Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 1.5% in the fourth quarter. Manchester Capital Management LLC now owns 3,652 shares of the financial services provider’s stock worth $732,000 after acquiring an additional 53 shares during the period. Cetera Investment Advisers increased its stake in shares of The PNC Financial Services Group by 0.4% in the fourth quarter. Cetera Investment Advisers now owns 14,417 shares of the financial services provider’s stock worth $2,891,000 after acquiring an additional 53 shares during the period. Canal Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 0.6% in the fourth quarter. Canal Capital Management LLC now owns 9,922 shares of the financial services provider’s stock worth $1,990,000 after acquiring an additional 55 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in shares of The PNC Financial Services Group by 5.0% in the fourth quarter. Morningstar Investment Services LLC now owns 1,164 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 83.54% of the company’s stock.

In other news, Director Robert A. Niblock acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the transaction, the director now owns 6,063 shares in the company, valued at $1,012,945.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $170.56, for a total transaction of $214,393.92. Following the sale, the executive vice president now owns 23,360 shares of the company’s stock, valued at $3,984,281.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

PNC has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a report on Monday, March 28th. Argus lowered their price target on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Raymond James lowered their price target on shares of The PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Monday, April 18th. Wolfe Research lowered their price target on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Finally, Piper Sandler lowered their price target on shares of The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating on the stock in a report on Friday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $215.29.

NYSE:PNC opened at $156.61 on Thursday. The company’s 50-day moving average price is $166.11 and its 200-day moving average price is $188.04. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.54. The company has a market cap of $64.77 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.16 and a beta of 1.24. The PNC Financial Services Group, Inc. has a twelve month low of $149.51 and a twelve month high of $228.14.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.51. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.72 billion. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $4.10 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 14.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were given a dividend of $1.50 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.25. This represents a $6.00 annualized dividend and a yield of 3.83%. The ex-dividend date was Tuesday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 50.76%.

The PNC Financial Services Group Profile (Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's 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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