The PNC Financial Services Group, Inc. (NYSE:PNC) Position Trimmed by Everpar Advisors LLC

Everpar Advisors LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,733 shares of the financial services provider’s stock after selling 656 shares during the period. Everpar Advisors LLC’s holdings in The PNC Financial Services Group were worth $656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Transcend Capital Advisors LLC raised its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the period. Valmark Advisers Inc. raised its position in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 56 shares during the period. Quadrant Capital Group LLC raised its position in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock valued at $1,288,000 after purchasing an additional 59 shares during the period. True Wealth Design LLC raised its position in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 59 shares during the period. Finally, Catalyst Financial Partners LLC raised its position in shares of The PNC Financial Services Group by 5.1% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,329 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 2.6%

PNC opened at $173.18 on Friday. The company’s 50 day moving average is $167.04 and its 200-day moving average is $182.46. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. 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 company has a market cap of $68.50 billion, a P/E ratio of 12.59, a PEG ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the completion of the transaction, the chief executive officer now owns 564,815 shares in the company, valued at $98,718,365.70. This trade represents a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,912 shares of company stock worth $2,313,022 in the last quarter. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

PNC has been the topic of several research reports. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Barclays decreased their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Truist Financial decreased their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.67.

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.