FourThought Financial LLC Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

FourThought Financial LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 25.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,255 shares of the financial services provider’s stock after selling 434 shares during the quarter. FourThought Financial LLC’s holdings in The PNC Financial Services Group were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $26,000. Standard Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $30,000. Ten Capital Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 587.1% in the third quarter. Ten Capital Wealth Advisors LLC now owns 213 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 182 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of The PNC Financial Services Group by 2.5% in the third quarter. Carolinas Wealth Consulting LLC now owns 4,072 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 101 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter worth $41,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Insider Buying and Selling

In related news, CEO William S. Demchak purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $129.70 per share, with a total value of $129,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 525,349 shares in the company, valued at approximately $68,137,765.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak bought 6,550 shares of the business’s stock in a transaction dated Friday, January 20th. The stock was acquired at an average cost of $153.38 per share, with a total value of $1,004,639.00. Following the purchase, the chief executive officer now owns 482,924 shares in the company, valued at approximately $74,070,883.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $129.70 per share, with a total value of $129,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 525,349 shares in the company, valued at $68,137,765.30. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PNC shares. UBS Group downgraded shares of The PNC Financial Services Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $190.00 to $176.00 in a research note on Tuesday, January 10th. Barclays decreased their price objective on shares of The PNC Financial Services Group from $222.00 to $218.00 and set an “overweight” rating for the company in a research report on Tuesday, January 3rd. Credit Suisse Group decreased their price objective on shares of The PNC Financial Services Group from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, January 19th. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $150.00 to $164.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Finally, StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $180.36.

The PNC Financial Services Group Stock Down 4.9 %

PNC opened at $123.72 on Friday. The business’s 50-day simple moving average is $155.20 and its 200-day simple moving average is $156.92. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79. The PNC Financial Services Group, Inc. has a one year low of $120.95 and a one year high of $199.43. The stock has a market capitalization of $49.45 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The firm had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the firm posted $2.86 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 14.66 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, February 5th. Investors of record on Tuesday, January 17th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Friday, January 13th. The PNC Financial Services Group’s dividend payout ratio is currently 43.26%.

The PNC Financial Services Group Company Profile

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.