Natixis Advisors LLC Cuts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Natixis Advisors LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,002 shares of the financial services provider’s stock after selling 3,943 shares during the period. Natixis Advisors LLC’s holdings in The PNC Financial Services Group were worth $35,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the sale, the chief executive officer now directly owns 528,797 shares in the company, valued at $102,385,675.14. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 12,420 shares of company stock worth $2,391,695. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $172.80 on Monday. The firm’s 50 day moving average price is $192.04 and its 200-day moving average price is $192.71. 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, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm has a market cap of $68.39 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.