Sunpointe LLC Cuts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sunpointe LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,134 shares of the financial services provider’s stock after selling 138 shares during the period. Sunpointe LLC’s holdings in The PNC Financial Services Group were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Valley Wealth Managers Inc. raised its holdings in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the transaction, the chief executive officer now owns 535,007 shares in the company, valued at $110,200,741.86. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 13,662 shares of company stock worth $2,730,549 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $194.19 on Thursday. The firm has a market cap of $77.05 billion, a PE ratio of 14.12, a P/E/G ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $196.55 and a 200 day moving average price of $191.49.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 analysts’ expectations of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed 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. This represents a $6.40 annualized dividend and a yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Truist Financial increased their price objective 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. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Wells Fargo & Company lifted their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Company 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.