The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,189 shares of the financial services provider’s stock after selling 205 shares during the quarter. Mission Wealth Management LP’s holdings in The PNC Financial Services Group were worth $808,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PNC. Chicago Partners Investment Group LLC lifted its stake in The PNC Financial Services Group by 23.5% in the third quarter. Chicago Partners Investment Group LLC now owns 2,470 shares of the financial services provider’s stock worth $465,000 after acquiring an additional 470 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of The PNC Financial Services Group by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 99,558 shares of the financial services provider’s stock worth $18,738,000 after purchasing an additional 16,154 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of The PNC Financial Services Group by 15.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 67,361 shares of the financial services provider’s stock worth $12,452,000 after purchasing an additional 8,957 shares in the last quarter. National Pension Service grew its stake in shares of The PNC Financial Services Group by 15.6% during the third quarter. National Pension Service now owns 956,637 shares of the financial services provider’s stock worth $176,834,000 after purchasing an additional 129,172 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in The PNC Financial Services Group by 1.5% in the third quarter. Asset Management One Co. Ltd. now owns 155,119 shares of the financial services provider’s stock valued at $28,674,000 after buying an additional 2,251 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 4.9 %

Shares of The PNC Financial Services Group stock opened at $180.27 on Wednesday. The company has a 50-day moving average of $195.06 and a two-hundred day moving average of $192.83. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $71.34 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 earnings per share. On average, research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.55%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 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 firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at $111,425,112.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 13,662 shares of company stock worth $2,681,664. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Compass Point boosted their price objective 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 increased their target price on shares of 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. Finally, Barclays lifted their price target 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. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $205.00.

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.