Davis Rea LTD. Sells 344 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Davis Rea LTD. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,960 shares of the financial services provider’s stock after selling 344 shares during the quarter. The PNC Financial Services Group comprises about 4.3% of Davis Rea LTD.’s holdings, making the stock its 13th biggest holding. Davis Rea LTD.’s holdings in The PNC Financial Services Group were worth $8,478,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Private Trust Co. NA now owns 10,122 shares of the financial services provider’s stock worth $1,952,000 after buying an additional 178 shares during the last quarter. Hosking Partners LLP raised its stake in shares of The PNC Financial Services Group by 22.7% during the fourth quarter. Hosking Partners LLP now owns 85,129 shares of the financial services provider’s stock worth $16,417,000 after acquiring an additional 15,747 shares in the last quarter. Argyle Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Argyle Capital Management LLC now owns 32,903 shares of the financial services provider’s stock worth $6,345,000 after acquiring an additional 385 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of The PNC Financial Services Group by 64.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,078 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 422 shares in the last quarter. Finally, Linscomb Wealth Inc. grew its holdings in shares of The PNC Financial Services Group by 7.6% during the 4th quarter. Linscomb Wealth Inc. now owns 2,221 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial increased their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley boosted 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 report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the transaction, the chief executive officer now owns 571,025 shares in the company, valued at approximately $109,893,761.25. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 12,420 shares of company stock valued at $2,445,461. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 0.8 %

NYSE:PNC opened at $188.46 on Friday. The firm has a 50 day moving average of $195.43 and a 200 day moving average of $192.15. 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 stock has a market capitalization of $74.78 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.16 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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 given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 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.