Anderson Hoagland & Co. Sells 79 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Anderson Hoagland & Co. cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,489 shares of the financial services provider’s stock after selling 79 shares during the quarter. Anderson Hoagland & Co.’s holdings in The PNC Financial Services Group were worth $3,075,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Insight Inv LLC grew its stake in shares of The PNC Financial Services Group by 5.2% in the 4th quarter. Insight Inv LLC now owns 10,312 shares of the financial services provider’s stock valued at $1,989,000 after buying an additional 508 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in The PNC Financial Services Group by 6.0% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 1,672 shares of the financial services provider’s stock worth $322,000 after acquiring an additional 94 shares in the last quarter. apricus wealth LLC grew its stake in The PNC Financial Services Group by 0.6% in the fourth quarter. apricus wealth LLC now owns 12,997 shares of the financial services provider’s stock valued at $2,506,000 after acquiring an additional 75 shares during the period. CX Institutional increased its holdings in shares of The PNC Financial Services Group by 17.5% during the fourth quarter. CX Institutional now owns 2,490 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 371 shares in the last quarter. Finally, Encompass More Asset Management raised its position in shares of The PNC Financial Services Group by 26.7% during the fourth quarter. Encompass More Asset Management now owns 1,376 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 290 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred 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 represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,171 shares of company stock worth $5,777,926 over the last quarter. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Up 0.9 %

The PNC Financial Services Group stock opened at $199.49 on Friday. The firm has a 50 day moving average price of $200.29 and a 200-day moving average price of $188.42. 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 twelve month low of $139.69 and a twelve month high of $216.26. The company has a market capitalization of $79.15 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company earned $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analysts Set New Price Targets

PNC has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company boosted 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 research report on Friday, November 15th. Truist Financial raised 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 research report on Friday, January 17th. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.