Founders Financial Alliance LLC Sells 92 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Founders Financial Alliance LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,878 shares of the financial services provider’s stock after selling 92 shares during the quarter. Founders Financial Alliance LLC’s holdings in The PNC Financial Services Group were worth $748,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNC. Principal Financial Group Inc. boosted its position in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $509,000. Assetmark Inc. boosted its position in shares of The PNC Financial Services Group by 2.7% during the 3rd quarter. Assetmark Inc. now owns 81,552 shares of the financial services provider’s stock worth $15,075,000 after acquiring an additional 2,150 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 7.7% during the 3rd quarter. Axxcess Wealth Management LLC now owns 19,241 shares of the financial services provider’s stock worth $3,557,000 after acquiring an additional 1,381 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 220 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 12,420 shares of company stock valued at $2,421,788 over the last quarter. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $174.58 on Tuesday. The firm has a market cap of $69.09 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The firm’s fifty day moving average is $193.84 and its 200-day moving average is $192.95. 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 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its 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 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 during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PNC. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup raised their target price 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 raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial raised their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group raised their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.