The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Lessened by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,346 shares of the financial services provider’s stock after selling 931 shares during the period. Oppenheimer Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $4,502,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. increased its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Whipplewood Advisors LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on 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. Finally, Stephens reaffirmed 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, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $205.00.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 12,420 shares of company stock worth $2,445,461. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $192.05 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $76.00 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The firm has a fifty day moving average price of $195.42 and a two-hundred day moving average price of $192.49. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

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.