Legacy Wealth Asset Management LLC Has $821,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Legacy Wealth Asset Management LLC cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,258 shares of the financial services provider’s stock after selling 158 shares during the period. Legacy Wealth Asset Management LLC’s holdings in The PNC Financial Services Group were worth $821,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its stake in shares of The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after purchasing an additional 123,994 shares during the period. Geode Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 2.0% during the 3rd 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 during the last quarter. Ameriprise Financial Inc. boosted its stake in The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the period. Finally, Legal & General Group Plc grew its holdings in 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 valued at $544,335,000 after buying an additional 223,955 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Citigroup upped their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $203.29.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,030 shares of company stock valued at $5,928,202. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 2.1 %

Shares of PNC opened at $196.23 on Friday. The business’s 50 day simple moving average is $201.65 and its 200-day simple moving average is $186.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a market capitalization of $77.86 billion, a P/E ratio of 16.59, a PEG ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company posted $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

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.