W.G. Shaheen & Associates DBA Whitney & Co Sells 87 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

W.G. Shaheen & Associates DBA Whitney & Co lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,730 shares of the financial services provider’s stock after selling 87 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in The PNC Financial Services Group were worth $1,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $25,000. Richardson Financial Services Inc. increased 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 acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter worth about $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Valley Wealth Managers Inc. grew its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 2.1 %

Shares of NYSE PNC opened at $187.90 on Monday. The stock has a market cap of $74.55 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The firm has a 50 day moving average price of $196.08 and a two-hundred day moving average price of $191.98. 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 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNC. Citigroup upped their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Barclays increased 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 report on Monday, January 6th. Finally, Compass Point boosted their price objective on shares of 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 analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 12,420 shares of company stock valued at $2,474,722. 0.42% of the stock is currently owned by company insiders.

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.