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

Yousif Capital Management LLC lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,211 shares of the financial services provider’s stock after selling 1,643 shares during the period. Yousif Capital Management LLC’s holdings in The PNC Financial Services Group were worth $10,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Czech National Bank increased its position in The PNC Financial Services Group by 6.8% during the third quarter. Czech National Bank now owns 80,974 shares of the financial services provider’s stock worth $14,968,000 after buying an additional 5,150 shares during the period. Diversified Trust Co grew its position in shares of The PNC Financial Services Group by 14.4% during the third quarter. Diversified Trust Co now owns 4,193 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 528 shares during the last quarter. Axiom Advisory LLC increased its holdings in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Axiom Advisory LLC now owns 3,712 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 298 shares during the period. Legacy Private Trust Co. purchased a new stake in The PNC Financial Services Group in the 3rd quarter valued at $217,000. Finally, Atomi Financial Group Inc. boosted its stake in The PNC Financial Services Group by 21.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,847 shares of the financial services provider’s stock worth $896,000 after purchasing an additional 848 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $198.99 on Thursday. The stock’s 50 day simple moving average is $199.25 and its 200 day simple moving average is $190.14. The stock has a market cap of $78.96 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.63 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly 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 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 analysts’ expectations of $5.51 billion. During the same quarter last year, the business posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities 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 firm 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 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective 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. Truist Financial upped their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’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 sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock worth $6,037,230 over the last ninety days. 0.42% of the stock is currently owned by 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.