The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,847 shares of the financial services provider’s stock after selling 75 shares during the period. Westover Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $549,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the sale, the chief executive officer now directly owns 531,281 shares in the company, valued at approximately $107,881,919.86. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 13,662 shares of company stock valued at $2,681,664 in the last 90 days. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent analyst reports. Citigroup upped their price objective on 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. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Compass Point boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their target price on shares of 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. Finally, Truist Financial lifted 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 research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $189.26 on Tuesday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company’s 50 day simple moving average is $195.34 and its 200 day simple moving average is $192.78. The company has a market capitalization of $74.90 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.55 and a beta of 1.16. 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 issued its quarterly 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 company had revenue of $5.57 billion for 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.16 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.38%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

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.