TIAA Trust National Association Has $3.65 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

TIAA Trust National Association lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,908 shares of the financial services provider’s stock after selling 3,064 shares during the period. TIAA Trust National Association’s holdings in The PNC Financial Services Group were worth $3,646,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. EFG Asset Management North America Corp. grew its holdings in The PNC Financial Services Group by 74.6% during the 4th quarter. EFG Asset Management North America Corp. now owns 30,244 shares of the financial services provider’s stock worth $5,838,000 after acquiring an additional 12,919 shares during the period. Modern Wealth Management LLC grew its stake in The PNC Financial Services Group by 255.9% during the fourth quarter. Modern Wealth Management LLC now owns 4,765 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 3,426 shares during the period. EntryPoint Capital LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $233,000. Angeles Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 11.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 3,142 shares of the financial services provider’s stock valued at $606,000 after buying an additional 322 shares during the period. Finally, Crowley Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $281,000. 83.53% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the transaction, the chief executive officer now owns 528,797 shares in the company, valued at approximately $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 13,662 shares of company stock valued at $2,582,789 in the last ninety days. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PNC. Barclays lifted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup dropped their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $201.65.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $176.88 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $188.86 and a 200-day moving average price of $192.20. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm has a market cap of $70.00 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business posted $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.