Advisors Asset Management Inc. Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Advisors Asset Management Inc. decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 41.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,347 shares of the financial services provider’s stock after selling 18,805 shares during the quarter. Advisors Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $5,081,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $25,000. Richardson Financial Services Inc. lifted its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $30,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $173.86 on Thursday. 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 firm has a market cap of $68.81 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The business has a 50-day simple moving average of $190.77 and a two-hundred day simple moving average of $192.43. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 firm 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 company earned $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, 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 Dividend Announcement

The company also recently disclosed 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 dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. 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 research note on Monday, November 25th. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday. 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. Finally, Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $203.71.

Insider Activity 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, December 27th. The stock was sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the sale, the chief executive officer now directly owns 528,797 shares in the company, valued at $102,385,675.14. 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. Over the last 90 days, insiders sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is owned by insiders.

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.