Dynamic Advisor Solutions LLC Cuts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Dynamic Advisor Solutions LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,193 shares of the financial services provider’s stock after selling 635 shares during the period. Dynamic Advisor Solutions LLC’s holdings in The PNC Financial Services Group were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $12,548,000. Bleakley Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new position in shares of The PNC Financial Services Group in the third quarter valued at approximately $839,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $199.49 on Monday. The business’s fifty day moving average price is $200.29 and its 200 day moving average price is $188.61. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $79.15 billion, a PE ratio of 14.51, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.21%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PNC shares. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of 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. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Piper Sandler boosted their target price 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. Two equities 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 stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,171 shares of company stock valued at $5,777,926. 0.42% of the stock is currently 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.