Mutual Advisors LLC Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mutual Advisors LLC lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 43.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,418 shares of the financial services provider’s stock after selling 1,088 shares during the period. Mutual Advisors LLC’s holdings in The PNC Financial Services Group were worth $220,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group during the third quarter worth about $25,000. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $28,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of The PNC Financial Services Group in the third quarter worth about $29,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of The PNC Financial Services Group in the second quarter worth about $29,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 3rd. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $141.00 to $155.00 in a research note on Thursday. Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Finally, Stephens reiterated an “equal weight” rating and issued a $138.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $152.87.

The PNC Financial Services Group Trading Up 1.0 %

Shares of The PNC Financial Services Group stock opened at $161.60 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The firm has a market cap of $64.29 billion, a PE ratio of 12.63, a PEG ratio of 1.86 and a beta of 1.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50 day simple moving average of $150.48 and a two-hundred day simple moving average of $138.71.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the business posted $3.49 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 12.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $6.20 annualized dividend and a yield of 3.84%. The PNC Financial Services Group’s payout ratio is presently 48.48%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by company insiders.

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.