Lbp Am Sa Sells 36,120 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Lbp Am Sa decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 61.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,333 shares of the financial services provider’s stock after selling 36,120 shares during the period. Lbp Am Sa’s holdings in The PNC Financial Services Group were worth $4,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. grew its position in 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 worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 12,420 shares of company stock valued at $2,391,695 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price target 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. Barclays raised their target price on 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. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Piper Sandler increased 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 note on Tuesday, December 3rd. Finally, Truist Financial raised their target price on 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Performance

PNC stock opened at $172.80 on Friday. The stock has a 50-day moving average price of $192.04 and a 200-day moving average price of $192.63. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year 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 firm has a market cap of $68.39 billion, a PE ratio of 12.57, 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 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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.16 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 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.