Fourpath Capital Management LLC Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fourpath Capital Management LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,308 shares of the financial services provider’s stock after selling 768 shares during the period. Fourpath Capital Management LLC’s holdings in The PNC Financial Services Group were worth $831,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. grew its position in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Financial Life Planners purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of recent research reports. Evercore ISI raised their target price on 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. Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays boosted their price objective on 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 raised 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 note on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % 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, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the sale, the chief executive officer now owns 523,829 shares in the company, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,171 shares of company stock worth $5,786,210. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 1.7 %

Shares of NYSE PNC opened at $197.61 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The firm’s 50-day moving average price is $199.85 and its 200-day moving average price is $189.82. The stock has a market capitalization of $78.41 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.63 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) 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 last year, the company earned $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

The PNC Financial Services Group 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.