Woodward Diversified Capital LLC Sells 1,610 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Woodward Diversified Capital LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 44.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,027 shares of the financial services provider’s stock after selling 1,610 shares during the quarter. Woodward Diversified Capital LLC’s holdings in The PNC Financial Services Group were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. CWM LLC increased its holdings in The PNC Financial Services Group by 14.7% during the 3rd quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock valued at $2,423,000 after purchasing an additional 1,681 shares in the last quarter. Wedmont Private Capital increased its stake in shares of The PNC Financial Services Group by 12.4% in the third quarter. Wedmont Private Capital now owns 4,399 shares of the financial services provider’s stock valued at $802,000 after buying an additional 486 shares in the last quarter. USA Financial Formulas raised its holdings in shares of The PNC Financial Services Group by 7.6% in the third quarter. USA Financial Formulas now owns 1,287 shares of the financial services provider’s stock valued at $238,000 after buying an additional 91 shares during the last quarter. UMB Bank n.a. lifted its position in The PNC Financial Services Group by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 14,728 shares of the financial services provider’s stock worth $2,722,000 after buying an additional 132 shares in the last quarter. Finally, Quotient Wealth Partners LLC grew its holdings in The PNC Financial Services Group by 2.1% during the 3rd quarter. Quotient Wealth Partners LLC now owns 3,488 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $200.80 on Friday. The firm has a market capitalization of $79.67 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a fifty day moving average of $198.68 and a 200-day moving average of $190.28.

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 (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the company earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 earnings per share 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. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PNC shares. Keefe, Bruyette & Woods boosted their target price on shares of 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. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Barclays lifted 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. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Truist Financial lifted their price objective 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. 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 stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price 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 dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares in the company, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock valued at $6,037,230 over the last quarter. Corporate 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.