Boston Trust Walden Corp Sells 775 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Boston Trust Walden Corp lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 87,222 shares of the financial services provider’s stock after selling 775 shares during the quarter. Boston Trust Walden Corp’s holdings in The PNC Financial Services Group were worth $16,821,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC raised its position in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after buying an additional 8,735 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares in the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC lifted its position in shares of The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Finally, Vista Investment Partners LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $3,251,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PNC. Piper Sandler boosted 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. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Evercore ISI boosted their target price on shares of 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. Finally, Citigroup lifted 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 report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $197.61 on Tuesday. The firm has a 50 day moving average price of $199.85 and a 200-day moving average price of $189.82. The firm has a market capitalization of $78.41 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.63 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. 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 (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.24%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $196.17, for a total transaction of $243,643.14. Following the sale, the chief executive officer now directly owns 523,829 shares of the company’s stock, valued at $102,759,534.93. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,171 shares of company stock worth $5,786,210. Company insiders own 0.42% of the company’s stock.

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.