The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Lessened by Granite Group Advisors LLC

Granite Group Advisors LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,386 shares of the financial services provider’s stock after selling 1,057 shares during the quarter. The PNC Financial Services Group makes up 1.8% of Granite Group Advisors LLC’s investment portfolio, making the stock its 5th largest position. Granite Group Advisors LLC’s holdings in The PNC Financial Services Group were worth $2,774,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares during the period. Vista Investment Partners LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $3,251,000. Asio Capital LLC increased its position in shares of The PNC Financial Services Group by 697.3% in the fourth quarter. Asio Capital LLC now owns 11,720 shares of the financial services provider’s stock valued at $2,260,000 after acquiring an additional 10,250 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of The PNC Financial Services Group by 3.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 7,891 shares of the financial services provider’s stock valued at $1,522,000 after acquiring an additional 285 shares during the period. Finally, Insight Inv LLC increased its position in shares of The PNC Financial Services Group by 5.2% during the fourth quarter. Insight Inv LLC now owns 10,312 shares of the financial services provider’s stock valued at $1,989,000 after buying an additional 508 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE PNC opened at $199.49 on Monday. The firm’s 50 day moving average price is $200.29 and its 200-day moving average price is $188.61. The company has a market cap 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, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. 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 (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.16 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $3,048,195.81. Following the completion of 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 a total of 28,171 shares of company stock worth $5,777,926 over the last quarter. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PNC shares. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Compass Point boosted their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $205.00.

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.