The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,907 shares of the financial services provider’s stock after selling 634 shares during the quarter. Retirement Systems of Alabama’s holdings in The PNC Financial Services Group were worth $16,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PNC. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Valley Wealth Managers Inc. lifted its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,037,230 over the last ninety days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $202.37 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The stock has a fifty day moving average price of $198.93 and a 200 day moving average price of $190.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $80.30 billion, a P/E ratio of 14.72, a PEG ratio of 1.63 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $3.16 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s 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.