Ruffer LLP Sells 11,090 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ruffer LLP lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,640 shares of the financial services provider’s stock after selling 11,090 shares during the period. Ruffer LLP’s holdings in The PNC Financial Services Group were worth $16,902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Bank of New York Mellon Corp grew its holdings in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the last quarter. 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 worth $108,217,000 after purchasing an additional 274,186 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of 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 worth $82,768,000 after purchasing an additional 252,473 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $37,587,000. Finally, KBC Group NV grew its holdings in shares of The PNC Financial Services Group by 214.4% during the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after purchasing an additional 185,210 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 completion of the sale, the chief executive officer now owns 569,783 shares of the company’s stock, valued at $108,361,330.94. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 12,420 shares of company stock worth $2,421,788 over the last quarter. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $179.75 on Friday. The firm has a market cap 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 company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $194.20 and its 200-day moving average price is $192.82. 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 PNC Financial Services Group (NYSE:PNC) last released its earnings results 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 EPS. On average, equities research analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PNC shares. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler upped their target price on 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. Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. 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 report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average 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.