Lowe Brockenbrough & Co. Inc. Sells 263 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Lowe Brockenbrough & Co. Inc. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,872 shares of the financial services provider’s stock after selling 263 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in The PNC Financial Services Group were worth $10,196,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PNC. Loomis Sayles & Co. L P lifted its position in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after buying an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its stake in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 53 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 55 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its position in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 56 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.2 %

Shares of NYSE:PNC opened at $173.42 on Friday. 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 business’s 50 day moving average is $190.35 and its 200 day moving average is $192.30. The stock has a market cap of $68.63 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.16 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm 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. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent research reports. 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. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. 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 note on Tuesday, December 3rd. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now owns 527,555 shares of the company’s stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 12,420 shares of company stock valued at $2,369,165. Company 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.