Canvas Wealth Advisors LLC Sells 1,183 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Canvas Wealth Advisors LLC lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 51.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,134 shares of the financial services provider’s stock after selling 1,183 shares during the period. Canvas Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $219,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after buying an additional 123,994 shares during the period. Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after buying an additional 166,138 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after buying an additional 42,887 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after buying an additional 6,438 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $205.98, for a total value of $255,827.16. Following the sale, the chief executive officer now directly owns 535,007 shares in the company, valued at approximately $110,200,741.86. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 14,904 shares of company stock worth $2,989,034 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $197.25 on Tuesday. The firm has a market capitalization of $78.26 billion, a PE ratio of 14.35, a PEG ratio of 1.64 and a beta of 1.16. The company’s 50-day moving average is $198.40 and its 200-day moving average is $190.62. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.16 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.24%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. 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. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.