Sky Investment Group LLC Has $6.53 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sky Investment Group LLC decreased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,880 shares of the financial services provider’s stock after selling 662 shares during the period. Sky Investment Group LLC’s holdings in The PNC Financial Services Group were worth $6,534,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $25,000. Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Quarry LP lifted its holdings in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares in the last quarter. Capital Performance Advisors LLP bought a new position in The PNC Financial Services Group in the 3rd quarter valued at $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the transaction, the chief executive officer now directly owns 526,313 shares in the company, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,171 shares of company stock valued at $5,768,325 in the last quarter. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.9 %

The PNC Financial Services Group stock opened at $198.36 on Tuesday. The company has a 50 day moving average of $201.40 and a 200-day moving average of $187.43. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock has a market capitalization of $78.71 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 EPS. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.03 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Company 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.