The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,970 shares of the financial services provider’s stock after selling 437 shares during the quarter. V Square Quantitative Management LLC’s holdings in The PNC Financial Services Group were worth $1,537,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Valley Wealth Managers Inc. grew its position 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 worth $37,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Truist Financial lifted their price target on shares of 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 lifted their price target 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. Barclays raised their price objective on shares of 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. Finally, Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’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 transaction, the chief executive officer now owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 13,662 shares of company stock worth $2,730,549. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.2 %

Shares of NYSE:PNC opened at $195.23 on Friday. The firm has a fifty day moving average of $197.68 and a two-hundred day moving average of $190.90. The firm has a market capitalization of $77.46 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. 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 earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (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 analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 EPS. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.28%. The PNC Financial Services Group’s dividend payout ratio is currently 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.