Quotient Wealth Partners LLC Decreases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Quotient Wealth Partners LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,131 shares of the financial services provider’s stock after selling 357 shares during the quarter. Quotient Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Richard C. Young & CO. LTD. increased its holdings in The PNC Financial Services Group by 36.5% during the 4th quarter. Richard C. Young & CO. LTD. now owns 83,258 shares of the financial services provider’s stock worth $16,056,000 after purchasing an additional 22,271 shares during the period. Investment Advisory Services Inc. TX ADV purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $210,000. Stoneridge Investment Partners LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $1,063,000. Entropy Technologies LP purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $5,824,000. Finally, D Orazio & Associates Inc. grew its holdings in The PNC Financial Services Group by 16.8% during the 4th quarter. D Orazio & Associates Inc. now owns 1,746 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 251 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $200.80 on Monday. 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 market cap of $79.67 billion, a PE ratio of 14.60, a P/E/G ratio of 1.64 and a beta of 1.16. The stock has a fifty day moving average price of $198.40 and a 200 day moving average price of $190.53. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. Barclays boosted 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. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Piper Sandler upped their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Citigroup upped their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $205.00.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $205.98, for a total transaction of $255,827.16. Following the completion of the sale, the chief executive officer now directly owns 535,007 shares in the company, valued at approximately $110,200,741.86. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 14,904 shares of company stock worth $2,989,034 over the last 90 days. Company insiders own 0.42% of the company’s stock.

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.