Colonial Trust Advisors Sells 861 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Colonial Trust Advisors decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 19.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,577 shares of the financial services provider’s stock after selling 861 shares during the quarter. Colonial Trust Advisors’ holdings in The PNC Financial Services Group were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PNC. Scotia Capital Inc. boosted its stake in shares of The PNC Financial Services Group by 1.3% in the 4th quarter. Scotia Capital Inc. now owns 29,655 shares of the financial services provider’s stock valued at $5,719,000 after purchasing an additional 389 shares in the last quarter. F M Investments LLC raised its position in The PNC Financial Services Group by 12.9% in the 4th quarter. F M Investments LLC now owns 65,964 shares of the financial services provider’s stock worth $12,721,000 after purchasing an additional 7,550 shares during the period. CenterBook Partners LP bought a new stake in The PNC Financial Services Group in the fourth quarter worth $827,000. Bessemer Group Inc. boosted its position in The PNC Financial Services Group by 1.2% during the fourth quarter. Bessemer Group Inc. now owns 67,942 shares of the financial services provider’s stock valued at $13,103,000 after buying an additional 799 shares during the period. Finally, DRW Securities LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $1,868,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 5.1 %

NYSE:PNC opened at $151.99 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average price is $179.25 and its 200-day moving average price is $190.38. The company has a market capitalization of $60.15 billion, a PE ratio of 11.05, a P/E/G ratio of 1.55 and a beta of 1.04. 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 announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 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 Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PNC shares. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Truist Financial lowered their price objective on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating for the company in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $203.47.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the transaction, the chief executive officer now owns 563,573 shares of the company’s stock, valued at $90,171,680. The trade was a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,276,870. 0.41% of the stock is currently owned by corporate 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.