Brookmont Capital Management Cuts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brookmont Capital Management reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,836 shares of the financial services provider’s stock after selling 119 shares during the period. The PNC Financial Services Group accounts for approximately 1.4% of Brookmont Capital Management’s portfolio, making the stock its 25th largest holding. Brookmont Capital Management’s holdings in The PNC Financial Services Group were worth $2,668,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Valley Wealth Managers Inc. increased its position in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of The PNC Financial Services Group during the third quarter valued at about $51,000. Quarry LP increased its position in shares of The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after buying an additional 170 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PNC shares. Barclays upped 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. Compass Point upped 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. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group 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 transaction of $235,098.18. Following the completion of the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,171 shares of company stock valued at $5,768,325. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $198.36 on Tuesday. The firm has a market cap of $78.71 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. 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 business has a 50 day moving average price of $201.40 and a 200-day moving average price of $187.43.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm earned $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.03 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.