Financial Guidance Group Inc. Cuts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Guidance Group Inc. lessened its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500 shares of the financial services provider’s stock after selling 571 shares during the quarter. Financial Guidance Group Inc.’s holdings in The PNC Financial Services Group were worth $289,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after buying an additional 274,186 shares during the period. Toronto Dominion Bank increased its holdings in shares of The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after buying an additional 252,473 shares during the last quarter. Finally, Eastern Bank raised its position in shares of The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock valued at $45,993,000 after buying an additional 236,272 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 1.8 %

NYSE PNC opened at $195.54 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The firm has a 50 day moving average of $197.68 and a two-hundred day moving average of $190.90. The stock has a market capitalization of $77.59 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’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 company posted $3.16 earnings per share. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares in the company, valued at $111,604,141.88. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 14,904 shares of company stock worth $2,989,034 over the last three months. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PNC shares. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. The Goldman Sachs Group upped their price objective 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. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI upped their price target 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. Finally, Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Company 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.