The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,400 shares of the financial services provider’s stock after selling 57 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. Caisse DE Depot ET Placement DU Quebec increased its position in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Toronto Dominion Bank increased its position in The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after acquiring an additional 252,473 shares during the period. KBC Group NV increased its position in The PNC Financial Services Group by 214.4% in the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock valued at $52,375,000 after acquiring an additional 185,210 shares during the period. Geode Capital Management LLC increased its position in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after acquiring an additional 166,138 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at about $28,766,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the sale, the chief executive officer now owns 532,523 shares of the company’s stock, valued at $111,425,112.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,713,745 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $186.68 on Tuesday. The business’s 50 day simple moving average is $195.80 and its 200-day simple moving average is $192.09. The firm has a market capitalization of $74.07 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. 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 PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.16 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Company 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.