Meeder Advisory Services Inc. Has $2.20 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Meeder Advisory Services Inc. lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,401 shares of the financial services provider’s stock after selling 143 shares during the period. Meeder Advisory Services Inc.’s holdings in The PNC Financial Services Group were worth $2,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Potomac Fund Management Inc. ADV acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,214,000. Groupama Asset Managment boosted its holdings in shares of The PNC Financial Services Group by 186.0% during the 4th quarter. Groupama Asset Managment now owns 399,305 shares of the financial services provider’s stock worth $76,878,000 after buying an additional 259,705 shares in the last quarter. Trexquant Investment LP boosted its holdings in shares of The PNC Financial Services Group by 110.7% during the 4th quarter. Trexquant Investment LP now owns 38,523 shares of the financial services provider’s stock worth $7,429,000 after buying an additional 20,239 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $397,000. Finally, Tradewinds LLC. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $373,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Barclays increased their target price on shares of 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. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Citigroup cut their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the company from $206.00 to $202.00 in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $204.12.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 13,662 shares of company stock worth $2,559,389. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $177.24 on Thursday. The firm has a market capitalization of $70.14 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The business’s fifty day simple moving average is $186.59 and its 200 day simple moving average is $192.07. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm earned $3.16 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.