Choreo LLC Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Choreo LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 68.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,355 shares of the financial services provider’s stock after selling 45,907 shares during the period. Choreo LLC’s holdings in The PNC Financial Services Group were worth $4,114,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Y.D. More Investments Ltd boosted its position in shares of The PNC Financial Services Group by 121.2% during the 4th quarter. Y.D. More Investments Ltd now owns 491 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 269 shares during the period. Hager Investment Management Services LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $510,000. Stratos Wealth Partners LTD. raised its position in The PNC Financial Services Group by 2.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 46,426 shares of the financial services provider’s stock valued at $8,953,000 after purchasing an additional 1,106 shares during the period. Finally, E. Ohman J or Asset Management AB lifted its stake in The PNC Financial Services Group by 12.6% during the fourth quarter. E. Ohman J or Asset Management AB now owns 18,021 shares of the financial services provider’s stock worth $3,475,000 after purchasing an additional 2,020 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the transaction, the chief executive officer now owns 522,587 shares in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock worth $6,037,230 in the last quarter. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $198.99 on Thursday. The firm has a market capitalization of $78.96 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The firm’s 50 day moving average is $199.25 and its two-hundred day moving average is $190.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

The PNC Financial Services Group Company 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.