The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Motco

Motco lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,836 shares of the financial services provider’s stock after selling 294 shares during the quarter. Motco’s holdings in The PNC Financial Services Group were worth $5,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PNC. Bank of New York Mellon Corp lifted its holdings in The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after acquiring an additional 274,186 shares during the period. Toronto Dominion Bank boosted its holdings in shares of The PNC Financial Services Group by 129.3% in the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after acquiring an additional 252,473 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $37,587,000. Finally, KBC Group NV lifted its position in The PNC Financial Services Group by 214.4% in the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after purchasing an additional 185,210 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on 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. Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler increased their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $205.00.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the transaction, the chief executive officer now owns 571,025 shares in the company, valued at $109,893,761.25. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 12,420 shares of company stock worth $2,445,461 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.8 %

NYSE:PNC opened at $188.46 on Friday. The business’s fifty day moving average price is $195.43 and its 200 day moving average price is $192.15. The firm has a market capitalization of $74.78 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.55 and a beta of 1.16. 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 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 EPS. On average, sell-side analysts forecast 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 announced 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.