Wingate Wealth Advisors Inc. Takes $81,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wingate Wealth Advisors Inc. purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 422 shares of the financial services provider’s stock, valued at approximately $81,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its stake in shares of The PNC Financial Services Group by 14.7% during the 3rd quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock worth $2,423,000 after acquiring an additional 1,681 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in The PNC Financial Services Group by 295.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,813 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 2,101 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in The PNC Financial Services Group by 9.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 6,563 shares of the financial services provider’s stock worth $1,213,000 after purchasing an additional 561 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth $70,000. Finally, Redhawk Wealth Advisors Inc. lifted its stake in The PNC Financial Services Group by 5.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 4,260 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 229 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 14,904 shares of company stock valued at $2,989,034. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $197.25 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The stock has a market capitalization of $78.26 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.64 and a beta of 1.16. The company’s fifty day moving average is $198.40 and its two-hundred day moving average is $190.62.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PNC shares. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler upped 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 note on Tuesday, December 3rd. Truist Financial upped their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Profile

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.