Mitchell & Pahl Private Wealth LLC Reduces Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mitchell & Pahl Private Wealth LLC reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,595 shares of the financial services provider’s stock after selling 143 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $500,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC increased its stake in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new position in The PNC Financial Services Group in the 3rd quarter worth about $12,548,000. Bleakley Financial Group LLC increased its stake in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in The PNC Financial Services Group in the 2nd quarter worth about $822,000. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on PNC shares. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Truist Financial increased their price objective on 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. Citigroup increased their price objective on 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. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Finally, Piper Sandler increased their price objective on 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now owns 533,765 shares in the company, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 28,171 shares of company stock worth $5,768,325 in the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.0 %

NYSE PNC opened at $198.59 on Wednesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. 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 stock has a 50 day simple moving average of $201.17 and a two-hundred day simple moving average of $187.72. The stock has a market cap of $78.80 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 15.03 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 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.