The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,547 shares of the financial services provider’s stock after selling 6,845 shares during the quarter. The PNC Financial Services Group accounts for 3.5% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 6th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in The PNC Financial Services Group were worth $32,504,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. AXA S.A. increased its holdings in The PNC Financial Services Group by 46.8% in the 2nd quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 3,865 shares during the period. AQR Capital Management LLC increased its stake in The PNC Financial Services Group by 14.2% in the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock valued at $6,983,000 after acquiring an additional 5,640 shares during the last quarter. APG Asset Management N.V. raised its position in The PNC Financial Services Group by 203.2% during the second quarter. APG Asset Management N.V. now owns 47,452 shares of the financial services provider’s stock valued at $6,884,000 after purchasing an additional 31,800 shares in the last quarter. Ascent Group LLC increased its stake in shares of The PNC Financial Services Group by 11.3% in the 2nd quarter. Ascent Group LLC now owns 7,594 shares of the financial services provider’s stock valued at $1,181,000 after purchasing an additional 768 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 31.0% during the 2nd quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock worth $5,099,000 after buying an additional 7,765 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on 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. Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their target price on shares of 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. Truist Financial increased their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $202.71 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The company has a 50 day simple moving average of $200.29 and a two-hundred day simple moving average of $188.78. The company has a market capitalization of $80.43 billion, a PE ratio of 14.74, a P/E/G ratio of 1.59 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 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.16 earnings per share. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock valued at $6,021,569 in the last ninety days. 0.42% of the stock is owned by company 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.