PFG Investments LLC Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

PFG Investments LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,798 shares of the financial services provider’s stock after selling 134 shares during the quarter. PFG Investments LLC’s holdings in The PNC Financial Services Group were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $30,000. Valley Wealth Managers Inc. grew its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the period. Quarry LP increased its holdings in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth $51,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Evercore ISI lifted their price target 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. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $205.00.

Check Out Our Latest Report on PNC

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,021,569 in the last quarter. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $202.29 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $80.26 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The stock has a 50 day moving average of $200.14 and a 200-day moving average of $189.26.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 EPS. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

The PNC Financial Services Group Company Profile

(Free Report)

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.

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

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