TIAA Trust National Association Sells 3,064 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

TIAA Trust National Association decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,908 shares of the financial services provider’s stock after selling 3,064 shares during the quarter. TIAA Trust National Association’s holdings in The PNC Financial Services Group were worth $3,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its stake 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 buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of analyst reports. Compass Point boosted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Citigroup reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $201.65.

The PNC Financial Services Group Stock Down 0.0 %

Shares of NYSE PNC opened at $176.88 on Thursday. The stock has a market capitalization of $70.00 billion, a P/E ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13. 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 PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm’s 50 day simple moving average is $188.86 and its two-hundred day simple moving average is $192.20.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $172.00, for a total transaction of $213,624.00. Following the completion of the sale, the chief executive officer now owns 566,057 shares of the company’s stock, valued at $97,361,804. This represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 13,662 shares of company stock worth $2,582,789 in the last ninety days. 0.42% of the stock is owned by insiders.

About The PNC Financial Services Group

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.