LVM Capital Management Ltd. MI Sells 412 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LVM Capital Management Ltd. MI decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,267 shares of the financial services provider’s stock after selling 412 shares during the period. LVM Capital Management Ltd. MI’s holdings in The PNC Financial Services Group were worth $630,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. raised its position in shares of The PNC Financial Services Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares in the last quarter. Geode Capital Management LLC raised its holdings in The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after acquiring an additional 18,397 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after buying an additional 223,955 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 2.3 %

Shares of PNC traded down $4.48 during mid-day trading on Friday, hitting $190.20. 1,078,615 shares of the company traded hands, compared to its average volume of 1,853,068. The business has a 50 day moving average of $201.43 and a 200 day moving average of $185.29. The company has a market capitalization of $75.47 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Truist Financial assumed coverage on shares of The PNC Financial Services Group in a report on Tuesday. They issued a “hold” rating and a $215.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $203.29.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated 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 sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,925,333 over the last quarter. 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.