The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,486 shares of the financial services provider’s stock after selling 113 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in The PNC Financial Services Group were worth $672,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonegate Investment Group LLC raised its holdings in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. Stonegate Investment Group LLC now owns 2,825 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 186 shares during the last quarter. Perigon Wealth Management LLC raised its stake in The PNC Financial Services Group by 49.9% in the 4th quarter. Perigon Wealth Management LLC now owns 8,747 shares of the financial services provider’s stock valued at $1,719,000 after purchasing an additional 2,912 shares during the last quarter. Buffington Mohr McNeal purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $203,000. Nilsine Partners LLC boosted its stake in shares of The PNC Financial Services Group by 6.7% during the 4th quarter. Nilsine Partners LLC now owns 2,358 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 149 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 12.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,742 shares of the financial services provider’s stock worth $336,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. Compass Point upped their price objective on shares of 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. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Piper Sandler raised their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, 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. Two 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 stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock valued at $6,021,569 in the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.6 %

Shares of PNC opened at $201.70 on Wednesday. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock’s 50-day moving average is $200.21 and its two-hundred day moving average is $189.03. 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 stock has a market cap of $80.03 billion, a PE ratio of 14.67, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly 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 firm 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 PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.16 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.