The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Benin Management CORP

Benin Management CORP lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,335 shares of the financial services provider’s stock after selling 313 shares during the period. The PNC Financial Services Group comprises about 1.5% of Benin Management CORP’s investment portfolio, making the stock its 11th biggest holding. Benin Management CORP’s holdings in The PNC Financial Services Group were worth $5,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in The PNC Financial Services Group by 12.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,771 shares of the financial services provider’s stock valued at $540,000 after buying an additional 301 shares during the last quarter. Spire Wealth Management increased its position in shares of The PNC Financial Services Group by 4.1% during the 4th quarter. Spire Wealth Management now owns 3,188 shares of the financial services provider’s stock worth $615,000 after purchasing an additional 127 shares during the last quarter. Catalina Capital Group LLC increased its stake in shares of The PNC Financial Services Group by 6.2% during the 4th quarter. Catalina Capital Group LLC now owns 2,052 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 120 shares during the last quarter. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Truist Financial cut 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 note on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $202.67.

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 business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the sale, the chief executive officer now directly owns 567,299 shares in the company, valued at approximately $97,093,223.85. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,396 shares of company stock worth $2,747,698 over the last three months. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Up 1.4%

PNC stock opened at $176.42 on Wednesday. The firm has a market cap of $69.79 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The firm has a fifty day moving average price of $165.03 and a 200 day moving average price of $184.02. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.63%. The PNC Financial Services Group’s payout ratio is currently 45.20%.

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.