The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by United Community Bank

United Community Bank lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,566 shares of the financial services provider’s stock after selling 145 shares during the quarter. United Community Bank’s holdings in The PNC Financial Services Group were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares during the period. Graypoint LLC grew its stake in The PNC Financial Services Group by 10.3% during the 3rd quarter. Graypoint LLC now owns 2,814 shares of the financial services provider’s stock worth $520,000 after buying an additional 262 shares during the last quarter. Cozad Asset Management Inc. acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at about $204,000. Principal Financial Group Inc. increased its position in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares during the period. Finally, Portside Wealth Group LLC bought a new stake in shares of The PNC Financial Services Group during the third quarter valued at about $236,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE PNC opened at $179.75 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 50-day moving average price of $194.20 and a 200-day moving average price of $192.82. The stock has a market capitalization of $71.14 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26.

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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders 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 yield of 3.56%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of 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. Compass Point increased their price objective on 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. Morgan Stanley upped their price objective on shares of 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. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Truist Financial raised their price objective 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, January 17th. Two investment 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. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $205.00.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 12,420 shares of company stock valued at $2,421,788 over the last three months. Insiders own 0.42% of the company’s stock.

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.