The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,978 shares of the financial services provider’s stock after selling 219 shares during the quarter. The PNC Financial Services Group makes up 1.3% of Phillips Wealth Planners LLC’s holdings, making the stock its 14th biggest position. Phillips Wealth Planners LLC’s holdings in The PNC Financial Services Group were worth $1,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Magnus Financial Group LLC lifted its holdings in The PNC Financial Services Group by 44.2% during the fourth quarter. Magnus Financial Group LLC now owns 3,381 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 1,036 shares in the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $30,000. Genesis Private Wealth LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $253,000. Simon Quick Advisors LLC lifted its holdings in The PNC Financial Services Group by 10.4% during the fourth quarter. Simon Quick Advisors LLC now owns 1,421 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 134 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in The PNC Financial Services Group by 10.4% during the fourth quarter. Atomi Financial Group Inc. now owns 5,352 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 505 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the completion of the transaction, the chief executive officer now owns 544,765 shares of the company’s stock, valued at approximately $103,652,436.55. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,014,241 in the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $196.41 on Thursday. The company’s 50 day simple moving average is $200.92 and its 200-day simple moving average is $188.02. The company has a market capitalization of $77.93 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. 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 (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.16 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PNC shares. Barclays raised their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup raised 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.