The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,315 shares of the financial services provider’s stock after selling 377 shares during the period. Kentucky Retirement Systems’ holdings in The PNC Financial Services Group were worth $5,268,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its holdings 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 acquiring an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 2.1 %

Shares of NYSE:PNC opened at $187.90 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. 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 company has a market cap of $74.55 billion, a PE ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16. The company’s 50-day moving average price is $196.08 and its 200 day moving average price is $191.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Citigroup increased 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. The Goldman Sachs Group upped their price objective 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. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $205.00.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the transaction, the chief executive officer now owns 532,523 shares of the company’s stock, valued at approximately $111,425,112.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 12,420 shares of company stock worth $2,474,722 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Company 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.