Level Four Advisory Services LLC Sells 109 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Level Four Advisory Services LLC lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,334 shares of the financial services provider’s stock after selling 109 shares during the quarter. Level Four Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $2,186,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PNC. Baltimore Washington Financial Advisors Inc. grew its position in shares of The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after buying an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 53 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the period. Valmark Advisers Inc. increased its stake in The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 56 shares in the last quarter. Finally, Red Wave Investments LLC raised its holdings in The PNC Financial Services Group by 3.1% in the third quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research analyst reports. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial boosted 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. Finally, Piper Sandler raised their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $204.25.

The PNC Financial Services Group Trading Down 1.8 %

Shares of NYSE:PNC opened at $171.83 on Friday. The company’s 50-day moving average price is $187.91 and its two-hundred day moving average price is $192.10. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. 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 stock has a market capitalization of $68.00 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 earnings per share. On average, equities analysts forecast 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 company 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. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. The PNC Financial Services Group’s payout ratio is 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,342,313. 0.41% of the stock is currently owned by corporate 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.