Neville Rodie & Shaw Inc. Sells 1,000 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Neville Rodie & Shaw Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.4% during the 1st quarter, HoldingsChannel reports. The firm owned 7,077 shares of the financial services provider’s stock after selling 1,000 shares during the period. Neville Rodie & Shaw Inc.’s holdings in The PNC Financial Services Group were worth $1,244,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the period. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after purchasing an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after purchasing an additional 726,115 shares during the period. Norges Bank bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $1,352,151,000. Finally, Northern Trust Corp increased its holdings in shares of The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after purchasing an additional 608,375 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the transaction, the chief executive officer now owns 562,291 shares of the company’s stock, valued at approximately $84,624,795.50. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,638 shares of company stock valued at $2,983,901. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $174.02 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market cap of $68.84 billion, a P/E ratio of 12.66, a PEG ratio of 1.55 and a beta of 1.06. The firm has a 50-day moving average of $165.15 and a 200 day moving average of $185.14. 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 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 for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. 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 $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

Analysts Set New Price Targets

PNC has been the subject of several research reports. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. HSBC upgraded shares of 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. Royal Bank of Canada cut their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial cut their target price on shares of 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $202.67.

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.