GC Wealth Management RIA LLC Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

GC Wealth Management RIA LLC trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,841 shares of the financial services provider’s stock after selling 137 shares during the quarter. GC Wealth Management RIA LLC’s holdings in The PNC Financial Services Group were worth $548,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 2.6 %

NYSE PNC opened at $170.15 on Wednesday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 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 company has a market capitalization of $67.34 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company’s fifty day moving average price is $193.39 and its two-hundred day moving average price is $192.90.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $3.16 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business 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 of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.76%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the transaction, the chief executive officer now directly owns 568,541 shares in the company, valued at approximately $101,672,187.03. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 13,662 shares of company stock worth $2,643,895. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PNC shares. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley boosted 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 research note on Friday, January 17th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $205.00.

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.