Westover Capital Advisors LLC Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Westover Capital Advisors LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,847 shares of the financial services provider’s stock after selling 75 shares during the period. Westover Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.4 %

The PNC Financial Services Group stock opened at $189.26 on Tuesday. 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 1 year low of $143.52 and a 1 year high of $216.26. The firm’s 50-day moving average is $195.34 and its 200-day moving average is $192.78. The company has a market cap of $74.90 billion, a P/E ratio of 13.76, a PEG ratio of 1.55 and a beta of 1.16.

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 analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.16 earnings per share. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.38%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNC. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their target price on 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. 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 report on Tuesday, December 3rd. Morgan Stanley raised their price objective on 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. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

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, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the completion of the transaction, the chief executive officer now directly owns 569,783 shares of the company’s stock, valued at $108,361,330.94. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 13,662 shares of company stock worth $2,681,664. 0.42% of the stock is owned by 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.