Farmers Trust Co. Has $1.77 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Farmers Trust Co. trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,163 shares of the financial services provider’s stock after selling 168 shares during the quarter. Farmers Trust Co.’s holdings in The PNC Financial Services Group were worth $1,767,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC grew its position in The PNC Financial Services Group by 0.7% in the second quarter. Savant Capital LLC now owns 12,032 shares of the financial services provider’s stock valued at $1,871,000 after acquiring an additional 79 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $85,000. Acadian Asset Management LLC increased its holdings in shares of The PNC Financial Services Group by 8,316.8% during the second quarter. Acadian Asset Management LLC now owns 15,487 shares of the financial services provider’s stock worth $2,406,000 after buying an additional 15,303 shares in the last quarter. LSV Asset Management lifted its stake in shares of The PNC Financial Services Group by 5.7% in the 2nd quarter. LSV Asset Management now owns 29,500 shares of the financial services provider’s stock valued at $4,587,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 134,987.5% during the 2nd quarter. Quest Partners LLC now owns 10,807 shares of the financial services provider’s stock valued at $1,680,000 after acquiring an additional 10,799 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,272 shares of company stock worth $6,155,103 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.1 %

PNC traded down $0.24 during midday trading on Wednesday, hitting $194.53. The company had a trading volume of 927,353 shares, compared to its average volume of 1,864,754. The stock’s 50 day moving average price is $201.22 and its 200 day moving average price is $185.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The company has a market capitalization of $77.19 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.29%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Analyst Ratings Changes

PNC has been the subject of several research reports. Compass Point increased their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Citigroup boosted their target price 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. Truist Financial started coverage on shares of The PNC Financial Services Group in a research note on Tuesday. They set a “hold” rating and a $215.00 price target for the company. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $203.29.

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.