ProVise Management Group LLC Sells 81 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

ProVise Management Group LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,256 shares of the financial services provider’s stock after selling 81 shares during the period. ProVise Management Group LLC’s holdings in The PNC Financial Services Group were worth $242,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PNC. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $32,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays lifted their price objective on 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. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point lifted their price objective 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. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $203.71.

The PNC Financial Services Group Stock Up 0.3 %

NYSE PNC opened at $173.86 on Thursday. 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 stock’s 50 day moving average is $190.77 and its two-hundred day moving average is $192.43. The company has a market capitalization of $68.81 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 company 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 return on equity of 11.12% and a net margin of 17.10%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.16 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at $97,093,223.85. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,604,263 in the last three months. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group 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.