Cutler Investment Counsel LLC Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cutler Investment Counsel LLC reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,406 shares of the financial services provider’s stock after selling 1,395 shares during the quarter. Cutler Investment Counsel LLC’s holdings in The PNC Financial Services Group were worth $9,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. grew its position in The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after buying an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of 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 worth $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the period. YANKCOM Partnership purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $457,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in The PNC Financial Services Group by 8.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,513 shares of the financial services provider’s stock valued at $10,320,000 after purchasing an additional 4,345 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.8 %

NYSE PNC opened at $193.91 on Monday. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year 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 company has a market capitalization of $76.94 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company’s 50-day simple moving average is $197.11 and its two-hundred day simple moving average is $191.09.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for 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 business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.30%. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the completion of the sale, the chief executive officer now owns 535,007 shares in the company, valued at approximately $110,200,741.86. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 13,662 shares of company stock worth $2,730,549 over the last three months. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PNC shares. 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 report on Monday, January 6th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company 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.