The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Decreased by Souders Financial Advisors

Souders Financial Advisors cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 28.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,921 shares of the financial services provider’s stock after selling 6,201 shares during the quarter. Souders Financial Advisors’ holdings in The PNC Financial Services Group were worth $3,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNC. Chicago Partners Investment Group LLC grew its position in The PNC Financial Services Group by 23.5% during the third quarter. Chicago Partners Investment Group LLC now owns 2,470 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 470 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of The PNC Financial Services Group by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 99,558 shares of the financial services provider’s stock valued at $18,738,000 after acquiring an additional 16,154 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of The PNC Financial Services Group by 15.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 67,361 shares of the financial services provider’s stock worth $12,452,000 after acquiring an additional 8,957 shares during the last quarter. National Pension Service boosted its position in The PNC Financial Services Group by 15.6% during the third quarter. National Pension Service now owns 956,637 shares of the financial services provider’s stock valued at $176,834,000 after purchasing an additional 129,172 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in The PNC Financial Services Group by 1.5% in the third quarter. Asset Management One Co. Ltd. now owns 155,119 shares of the financial services provider’s stock valued at $28,674,000 after purchasing an additional 2,251 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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 company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the transaction, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 13,662 shares of company stock valued at $2,681,664. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $180.27 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day moving average is $195.06 and its 200-day moving average is $192.83. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.16 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PNC shares. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler boosted their target price 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. The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.