Bourgeon Capital Management LLC Has $12.89 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bourgeon Capital Management LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,855 shares of the financial services provider’s stock after selling 310 shares during the quarter. The PNC Financial Services Group makes up approximately 2.4% of Bourgeon Capital Management LLC’s portfolio, making the stock its 13th largest position. Bourgeon Capital Management LLC’s holdings in The PNC Financial Services Group were worth $12,893,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PNC. Loomis Sayles & Co. L P boosted its position in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 55 shares during the period. Resonant Capital Advisors LLC grew its position in shares of The PNC Financial Services Group by 0.3% in the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 56 shares during the last quarter. Altman Advisors Inc. increased its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares during the period. Finally, Valley Brook Capital Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 57 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,171 shares of company stock worth $5,768,325. 0.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on PNC shares. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $198.59 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market cap of $78.80 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company’s 50-day moving average price is $201.17 and its two-hundred day moving average price is $187.72.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.2 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.