HighTower Advisors LLC Has $79.19 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

by · The Cerbat Gem

HighTower Advisors LLC increased its position in The PNC Financial Services Group, Inc (NYSE:PNCFree Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 379,374 shares of the financial services provider’s stock after buying an additional 12,786 shares during the period. HighTower Advisors LLC owned 0.10% of The PNC Financial Services Group worth $79,187,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. YANKCOM Partnership grew its stake in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after buying an additional 46 shares during the period. Westfuller Advisors LLC raised its holdings in The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after buying an additional 46 shares during the last quarter. Flavin Financial Services Inc. raised its holdings in The PNC Financial Services Group by 0.4% during the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after buying an additional 48 shares during the last quarter. Almanack Investment Partners LLC. raised its holdings in The PNC Financial Services Group by 2.2% during the fourth quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock worth $490,000 after buying an additional 50 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in The PNC Financial Services Group by 1.1% during the fourth quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider’s stock worth $999,000 after buying an additional 50 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer owned 554,274 shares in the company, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $216.96 on Thursday. The PNC Financial Services Group, Inc has a twelve month low of $169.32 and a twelve month high of $243.94. The stock’s 50 day moving average price is $213.87 and its 200-day moving average price is $211.44. The company has a market capitalization of $87.13 billion, a PE ratio of 12.61, a PEG ratio of 0.88 and a beta of 0.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Citigroup lifted their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Truist Financial lifted their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

Check Out Our Latest Research Report on PNC

The PNC Financial Services Group Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNCFree Report).