Blake Schutter Theil Wealth Advisors LLC Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Blake Schutter Theil Wealth Advisors LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,116 shares of the financial services provider’s stock after selling 255 shares during the period. Blake Schutter Theil Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $215,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $30,000. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company increased 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 note on Friday, January 17th. Citigroup lifted their target price 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. Piper Sandler lifted their target price 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. Finally, Barclays boosted their price target on shares of 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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 business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the transaction, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 12,420 shares of company stock worth $2,421,788 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4 %

NYSE:PNC opened at $179.75 on Friday. The company has a market cap of $71.14 billion, a PE ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13. The stock has a 50-day simple moving average of $194.20 and a 200 day simple moving average of $192.82. 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 PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 EPS. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The PNC Financial Services Group’s payout ratio is presently 46.55%.

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.