The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Rothschild Investment LLC

Rothschild Investment LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,533 shares of the financial services provider’s stock after selling 553 shares during the quarter. Rothschild Investment LLC’s holdings in The PNC Financial Services Group were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 0.7% during 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 buying an additional 268,827 shares in the last quarter. Franklin Resources Inc. boosted its holdings in The PNC Financial Services Group by 5.3% during 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 buying an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in The PNC Financial Services Group by 10.7% during 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 buying an additional 726,115 shares in the last quarter. Norges Bank purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $1,352,151,000. Finally, Northern Trust Corp boosted its holdings in The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after buying an additional 608,375 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 601 shares of the company’s stock in a transaction dated Wednesday, April 9th. The shares were 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 in the company, valued at approximately $90,171,680. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,396 shares of company stock valued at $2,747,698 in the last quarter. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $173.86 on Monday. 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 firm has a market capitalization of $68.77 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.06. The company’s fifty day moving average price is $165.07 and its two-hundred day moving average price is $184.31.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given 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 presently 45.20%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Citigroup lowered 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 research report on Monday, March 24th. Truist Financial decreased their target price on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company cut their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.