The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,473 shares of the financial services provider’s stock after selling 128 shares during the period. BLB&B Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Valley Wealth Managers Inc. boosted its holdings in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s 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 transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,413 shares of company stock worth $6,037,230. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $200.80 on Friday. The business has a 50 day moving average price of $198.68 and a two-hundred day moving average price of $190.28. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The firm has a market cap of $79.67 billion, a PE ratio of 14.60, a price-to-earnings-growth 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) 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 analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The PNC Financial Services Group’s payout ratio is 46.55%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Barclays lifted their price target 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. The Goldman Sachs Group increased their price objective on shares of 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. Finally, Piper Sandler lifted 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 report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.