Crewe Advisors LLC Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Crewe Advisors LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 598 shares of the financial services provider’s stock after selling 280 shares during the quarter. Crewe Advisors LLC’s holdings in The PNC Financial Services Group were worth $115,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of The PNC Financial Services Group by 121.2% in the 4th quarter. Y.D. More Investments Ltd now owns 491 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 269 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $510,000. Stratos Wealth Partners LTD. lifted its stake in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 46,426 shares of the financial services provider’s stock valued at $8,953,000 after purchasing an additional 1,106 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its stake in shares of The PNC Financial Services Group by 12.6% in the 4th quarter. E. Ohman J or Asset Management AB now owns 18,021 shares of the financial services provider’s stock valued at $3,475,000 after purchasing an additional 2,020 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PNC shares. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated 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 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 this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock valued at $6,037,230 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $198.99 on Thursday. The company has a 50-day simple moving average of $199.25 and a 200-day simple moving average of $190.14. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year 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 stock has a market capitalization of $78.96 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.63 and a beta of 1.16.

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

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.22%. 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.