Davis Rea LTD. Has $8.48 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Davis Rea LTD. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,960 shares of the financial services provider’s stock after selling 344 shares during the period. The PNC Financial Services Group makes up approximately 4.3% of Davis Rea LTD.’s holdings, making the stock its 13th largest holding. Davis Rea LTD.’s holdings in The PNC Financial Services Group were worth $8,478,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. grew its position in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the transaction, the chief executive officer now directly owns 531,281 shares in the company, valued at $107,881,919.86. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 12,420 shares of company stock worth $2,445,461. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research analyst reports. Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays increased their price objective 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, Citigroup boosted their target price on 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Trading Up 0.8 %

Shares of PNC stock opened at $188.46 on Friday. 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, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a market cap of $74.78 billion, a PE ratio of 13.71, a P/E/G ratio of 1.55 and a beta of 1.16. The stock’s fifty day moving average price is $195.43 and its two-hundred day moving average price is $192.15.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.16 earnings per share. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.40%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.