Cable Hill Partners LLC Sells 73 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cable Hill Partners LLC lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,487 shares of the financial services provider’s stock after selling 73 shares during the quarter. Cable Hill Partners LLC’s holdings in The PNC Financial Services Group were worth $287,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PNC. Loomis Sayles & Co. L P raised its stake in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. raised its stake in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares during the period. Transcend Capital Advisors LLC raised its stake in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the period. Finally, Altman Advisors Inc. raised its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after acquiring an additional 56 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PNC. Piper Sandler boosted their price objective on 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. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two 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. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Up 0.2 %

PNC stock opened at $186.90 on Thursday. 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 company’s 50 day moving average is $195.46 and its 200 day moving average is $192.17. The stock has a market cap of $74.16 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. 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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 13,662 shares of company stock valued at $2,713,745 over the last quarter. 0.42% of the stock is owned by corporate insiders.

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.