Good Life Advisors LLC Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Good Life Advisors LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,552 shares of the financial services provider’s stock after selling 904 shares during the period. Good Life Advisors LLC’s holdings in The PNC Financial Services Group were worth $492,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its position in shares of The PNC Financial Services Group by 2,333.3% in the fourth 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 in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Valley Wealth Managers Inc. increased its position 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 worth $37,000 after purchasing an additional 200 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $191.89 on Friday. 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 PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock’s 50 day moving average price is $196.34 and its 200 day moving average price is $191.49. The firm has a market capitalization of $76.14 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.34%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 12,420 shares of company stock valued at $2,474,722. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PNC has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

About The PNC Financial Services Group

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.