The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Lessened by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,347 shares of the financial services provider's stock after selling 18,805 shares during the quarter. Advisors Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $5,081,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Mirae Asset Global Investments Co. Ltd. increased its stake in The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after acquiring an additional 3,100 shares during the period. Root Financial Partners LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $346,000. Finally, Truist Financial Corp grew its holdings in The PNC Financial Services Group by 1.4% in the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider's stock valued at $218,429,000 after purchasing an additional 15,246 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research firms have weighed in on PNC. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Truist Financial increased their price objective on shares of 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. Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus target price of $201.65.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now owns 527,555 shares of the company's stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 13,662 shares of company stock valued at $2,582,789 in the last three months. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

PNC traded up $2.95 during trading on Monday, reaching $176.56. 2,924,435 shares of the company were exchanged, compared to its average volume of 1,762,970. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. 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 firm has a 50 day moving average of $190.03 and a 200 day moving average of $192.34. The stock has a market cap of $69.88 billion, a P/E ratio of 12.84, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.16 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The PNC Financial Services Group's dividend payout ratio 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.