Claro Advisors LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 25.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,529 shares of the financial services provider’s stock after selling 528 shares during the quarter. Claro Advisors LLC’s holdings in The PNC Financial Services Group were worth $295,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. raised its stake in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Quarry LP increased its stake in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 170 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $51,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 220 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $70,000. Institutional investors own 83.53% of the company’s stock.
The PNC Financial Services Group Price Performance
PNC opened at $195.81 on Wednesday. The business has a fifty day moving average of $201.75 and a 200 day moving average of $186.58. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $77.69 billion, a P/E ratio of 16.55, a PEG ratio of 2.11 and a beta of 1.16.
The PNC Financial Services Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on PNC shares. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted their price objective on 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. Finally, Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $203.29.
Check Out Our Latest Analysis on The PNC Financial Services Group
Insider Buying and Selling at The PNC Financial Services Group
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 on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the sale, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at $104,052,553.99. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,272 shares of company stock valued at $6,164,890 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.
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.
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