The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,598 shares of the financial services provider’s stock after selling 454 shares during the period. Middleton & Co. Inc. MA’s holdings in The PNC Financial Services Group were worth $1,658,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after buying an additional 3,100 shares during the period. Finally, Root Financial Partners LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $346,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several research analyst reports. Piper Sandler raised 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 note on Tuesday, December 3rd. Wells Fargo & Company raised their target price 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. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Compass Point lifted 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 note on Tuesday, December 10th. Finally, Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Trading Up 1.9 %

Shares of PNC stock opened at $192.05 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm’s fifty day simple moving average is $195.42 and its 200 day simple moving average is $192.32. The firm has a market capitalization of $76.00 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.33%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares in the company, valued at approximately $107,881,919.86. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 12,420 shares of company stock worth $2,445,461 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

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.