The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Decreased by Oakworth Capital Inc.

Oakworth Capital Inc. reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.2% during the 4th quarter, Holdings Channel reports. The fund owned 603 shares of the financial services provider’s stock after selling 108 shares during the quarter. Oakworth Capital Inc.’s holdings in The PNC Financial Services Group were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PNC. YANKCOM Partnership bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $457,000. Bleakley Financial Group LLC grew its position in The PNC Financial Services Group by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 16,411 shares of the financial services provider’s stock valued at $3,165,000 after buying an additional 653 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its position in shares of The PNC Financial Services Group by 5.5% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,278 shares of the financial services provider’s stock worth $246,000 after buying an additional 67 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares during the period. Finally, Y.D. More Investments Ltd boosted its holdings in shares of The PNC Financial Services Group by 121.2% in the fourth quarter. Y.D. More Investments Ltd now owns 491 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PNC. Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $202.37 on Friday. The stock has a market cap of $80.30 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. 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 business has a fifty day simple moving average of $198.93 and a 200-day simple moving average of $190.20.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 return on equity of 11.12% and a net margin of 17.10%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.16 EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.16%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,037,230 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group 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.