Stephens Inc. AR Sells 509 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Stephens Inc. AR reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 41,996 shares of the financial services provider’s stock after selling 509 shares during the quarter. Stephens Inc. AR’s holdings in The PNC Financial Services Group were worth $8,099,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. Fifth Third Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares during the period. YANKCOM Partnership bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $457,000. Finally, Bleakley Financial Group LLC lifted its stake in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares during the period. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PNC. Truist Financial boosted their price target on shares of 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. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Compass Point raised their target price 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. Evercore ISI upped their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler raised their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. 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 stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

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 firm’s 50 day simple moving average is $198.40 and its 200-day simple moving average is $190.53. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a market capitalization of $79.67 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Buying and Selling 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 22nd. The shares were sold at an average price of $205.98, for a total value of $255,827.16. Following the completion of the sale, the chief executive officer now owns 535,007 shares in the company, valued at approximately $110,200,741.86. This 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. In the last 90 days, insiders have sold 14,904 shares of company stock worth $2,989,034. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

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.