RKL Wealth Management LLC Sells 400 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

RKL Wealth Management LLC reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,559 shares of the financial services provider’s stock after selling 400 shares during the quarter. RKL Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. grew its stake 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 last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Whipplewood Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $33,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Up 0.4 %

The PNC Financial Services Group stock opened at $179.75 on Friday. 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 52 week low of $143.52 and a 52 week high of $216.26. The company has a market capitalization of $71.14 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The stock has a 50-day moving average price of $194.20 and a 200 day moving average price of $192.68.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $3.16 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. 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 note on Friday, December 6th. Morgan Stanley lifted their target price on 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. Barclays lifted their target price 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. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Truist Financial boosted their price target on 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the transaction, the chief executive officer now directly owns 531,281 shares of the company’s stock, valued at $107,881,919.86. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 12,420 shares of company stock valued at $2,421,788. 0.42% of the stock is owned by company insiders.

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.