Advisors Asset Management Inc. Sells 18,805 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Advisors Asset Management Inc. decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 41.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,347 shares of the financial services provider’s stock after selling 18,805 shares during the period. Advisors Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $5,081,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% in 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 during the period. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley lifted 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 report on Friday, January 17th. Finally, Truist Financial upped their target price on shares of 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. Two investment 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’s stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $203.71.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the transaction, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,604,263. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $173.86 on Thursday. The stock has a market cap of $68.81 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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 moving average price of $190.77 and a 200-day moving average price of $192.43. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.16 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.