The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,543 shares of the financial services provider’s stock after selling 100 shares during the quarter. Principle Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $4,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. International Assets Investment Management LLC grew its position in The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after buying an additional 433,178 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after buying an additional 274,186 shares in the last quarter. Toronto Dominion Bank raised its position in The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after buying an additional 252,473 shares during the period. Finally, Eastern Bank lifted its stake in The PNC Financial Services Group by 1,884.1% in the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after acquiring an additional 236,272 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 14,904 shares of company stock valued at $2,989,034 over the last three months. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Evercore ISI boosted 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 report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Down 1.7 %

Shares of The PNC Financial Services Group stock opened at $197.25 on Tuesday. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The stock has a market capitalization of $78.26 billion, a P/E ratio of 14.35, a PEG ratio of 1.64 and a beta of 1.16. 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 stock has a 50 day moving average price of $198.40 and a two-hundred day moving average price of $190.62.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Equities analysts expect 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

The PNC Financial Services Group Company 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.