Rockland Trust Co. Sells 432 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Rockland Trust Co. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,720 shares of the financial services provider’s stock after selling 432 shares during the quarter. Rockland Trust Co.’s holdings in The PNC Financial Services Group were worth $1,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PNC. Fifth Third Wealth Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after buying an additional 8,735 shares during the period. Community Trust & Investment Co. raised its holdings in The PNC Financial Services Group by 10.0% in the 4th quarter. Community Trust & Investment Co. now owns 1,242 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 113 shares in the last quarter. Pines Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,258,000. SeaCrest Wealth Management LLC grew its holdings in shares of The PNC Financial Services Group by 11.7% during the 4th quarter. SeaCrest Wealth Management LLC now owns 2,151 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 225 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its position in shares of The PNC Financial Services Group by 4.4% during the fourth quarter. Accurate Wealth Management LLC now owns 8,308 shares of the financial services provider’s stock valued at $1,571,000 after purchasing an additional 347 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Up 1.8 %

NYSE:PNC opened at $195.81 on Wednesday. The company has a market cap of $77.69 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day moving average price is $201.75 and its two-hundred day moving average price is $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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. 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 $3.60 earnings per share. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.27%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Insider Activity

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,272 shares of company stock valued at $6,164,890. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of 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. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Truist Financial started coverage on shares of The PNC Financial Services Group in a research report on Tuesday, January 7th. They issued a “hold” rating and a $215.00 price target for the company. Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group upped 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. Two 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $203.29.

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.