Atria Wealth Solutions Inc. Has $3.76 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Atria Wealth Solutions Inc. lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,284 shares of the financial services provider’s stock after selling 547 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in The PNC Financial Services Group were worth $3,760,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd lifted its holdings in The PNC Financial Services Group by 143.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,496 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 881 shares during the last quarter. GAMMA Investing LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $266,000. SlateStone Wealth LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $214,000. Larson Financial Group LLC lifted its holdings in The PNC Financial Services Group by 10.5% during the 4th quarter. Larson Financial Group LLC now owns 10,637 shares of the financial services provider’s stock valued at $1,647,000 after purchasing an additional 1,007 shares during the last quarter. Finally, PDS Planning Inc bought a new position in The PNC Financial Services Group during the 4th quarter worth $218,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Evercore ISI lowered their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Down 0.1 %

Shares of NYSE PNC opened at $156.11 on Friday. The stock’s fifty day moving average is $152.76 and its 200 day moving average is $143.36. The stock has a market capitalization of $62.10 billion, a P/E ratio of 13.11, a PEG ratio of 1.76 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.