The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Comerica Bank

Comerica Bank lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,439 shares of the financial services provider’s stock after selling 2,791 shares during the period. Comerica Bank’s holdings in The PNC Financial Services Group were worth $22,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 184.0% during the fourth quarter. AQR Capital Management LLC now owns 494,725 shares of the financial services provider’s stock worth $95,408,000 after buying an additional 320,510 shares in the last quarter. Lido Advisors LLC boosted its position in The PNC Financial Services Group by 6.1% during the fourth quarter. Lido Advisors LLC now owns 11,145 shares of the financial services provider’s stock worth $2,149,000 after acquiring an additional 642 shares during the last quarter. Northern Trust Corp grew its stake in The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after acquiring an additional 608,375 shares during the period. Beacon Pointe Advisors LLC raised its holdings in The PNC Financial Services Group by 2.3% in the 4th quarter. Beacon Pointe Advisors LLC now owns 17,479 shares of the financial services provider’s stock valued at $3,371,000 after acquiring an additional 398 shares during the last quarter. Finally, Betterment LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $224,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $160.75 on Thursday. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. 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 company has a market capitalization of $63.62 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm’s fifty day moving average price is $167.89 and its 200 day moving average price is $187.74.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, research analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $192.45, for a total transaction of $239,022.90. Following the transaction, the chief executive officer now directly owns 571,025 shares in the company, valued at $109,893,761.25. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 13,662 shares of company stock valued at $2,370,382. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNC. Truist Financial lowered their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley lowered their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Citigroup lowered their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Barclays cut their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $200.88.

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.