The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 99.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,835 shares of the financial services provider’s stock after selling 534,154 shares during the period. International Assets Investment Management LLC’s holdings in The PNC Financial Services Group were worth $543,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its position in shares of The PNC Financial Services Group by 8,316.8% during the 2nd quarter. Acadian Asset Management LLC now owns 15,487 shares of the financial services provider’s stock valued at $2,406,000 after acquiring an additional 15,303 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $92,000. LPL Financial LLC raised its position in shares of The PNC Financial Services Group by 2.1% during the 2nd quarter. LPL Financial LLC now owns 597,579 shares of the financial services provider’s stock valued at $92,912,000 after buying an additional 12,443 shares during the period. American Century Companies Inc. lifted its holdings in The PNC Financial Services Group by 2.5% in the second quarter. American Century Companies Inc. now owns 1,128,404 shares of the financial services provider’s stock valued at $175,444,000 after acquiring an additional 27,925 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in The PNC Financial Services Group in the second quarter worth approximately $11,471,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler upped their target price on shares of 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. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $203.29.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now owns 527,555 shares in the company, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group 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 sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock worth $5,925,333 over the last 90 days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 2.8 %

Shares of The PNC Financial Services Group stock opened at $189.31 on Friday. 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 50 day moving average of $201.47 and a 200 day moving average of $185.53. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $75.11 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

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.