Kathleen S. Wright Associates Inc. Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kathleen S. Wright Associates Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,846 shares of the financial services provider’s stock after selling 320 shares during the quarter. Kathleen S. Wright Associates Inc.’s holdings in The PNC Financial Services Group were worth $764,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PNC. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. increased its holdings in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Valley Wealth Managers Inc. grew its position in shares of The PNC Financial Services Group by 20,000.0% during the third 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 in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.7 %

Shares of NYSE PNC opened at $197.61 on Tuesday. The business’s 50 day moving average price is $199.85 and its 200-day moving average price is $189.82. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. 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 company has a market cap of $78.41 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.63 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. 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 3.24%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Evercore ISI increased their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial increased their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup upped 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 research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 transaction, the chief executive officer now directly owns 530,039 shares in the company, valued at approximately $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,171 shares of company stock valued at $5,786,210. 0.42% of the stock is currently owned by company insiders.

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.