The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Lowered by United Community Bank

United Community Bank lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,566 shares of the financial services provider’s stock after selling 145 shares during the quarter. United Community Bank’s holdings in The PNC Financial Services Group were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in PNC. Concurrent Investment Advisors LLC lifted its position in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the last quarter. Graypoint LLC lifted its stake in The PNC Financial Services Group by 10.3% during the third quarter. Graypoint LLC now owns 2,814 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 262 shares during the period. Cozad Asset Management Inc. bought a new stake in The PNC Financial Services Group in the third quarter valued at $204,000. Principal Financial Group Inc. increased its holdings in shares of The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after buying an additional 22,271 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new position in The PNC Financial Services Group in the third quarter worth $236,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $179.75 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. 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 company has a market capitalization of $71.14 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.55 and a beta of 1.13. The business’s 50-day moving average is $194.20 and its two-hundred day moving average is $192.82.

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 the consensus estimate 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the sale, the chief executive officer now owns 569,783 shares in the company, valued at approximately $108,361,330.94. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 12,420 shares of company stock worth $2,421,788 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. 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 report on Friday, January 17th. Citigroup upped 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 note on Monday, November 25th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.