The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Avalon Trust Co

Avalon Trust Co decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,172 shares of the financial services provider's stock after selling 1,950 shares during the period. The PNC Financial Services Group makes up about 1.8% of Avalon Trust Co's portfolio, making the stock its 14th biggest holding. Avalon Trust Co's holdings in The PNC Financial Services Group were worth $25,297,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. one8zero8 LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $623,000. Choate Investment Advisors raised its stake in The PNC Financial Services Group by 2.4% in the 4th quarter. Choate Investment Advisors now owns 8,846 shares of the financial services provider's stock valued at $1,706,000 after purchasing an additional 207 shares during the last quarter. Diversified Enterprises LLC raised its holdings in The PNC Financial Services Group by 2.6% in the 4th quarter. Diversified Enterprises LLC now owns 3,895 shares of the financial services provider's stock valued at $751,000 after acquiring an additional 100 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in The PNC Financial Services Group by 25.1% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,635 shares of the financial services provider's stock valued at $701,000 after buying an additional 730 shares in the last quarter. Finally, Van Strum & Towne Inc. increased its position in The PNC Financial Services Group by 28.0% during the fourth quarter. Van Strum & Towne Inc. now owns 1,602 shares of the financial services provider's stock worth $309,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Remove Ads

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $0.41 during midday trading on Thursday, reaching $173.42. The stock had a trading volume of 2,994,467 shares, compared to its average volume of 1,747,252. The stock has a market cap of $68.63 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. 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, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The firm has a fifty day simple moving average of $190.77 and a two-hundred day simple moving average of $192.43.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) 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 analyst estimates 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 business's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.16 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current 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 paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.69%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares of the company's stock, valued at $102,385,675.14. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,604,263 over the last quarter. Company insiders own 0.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNC. Stephens reiterated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Barclays lifted their price target 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 upped their price objective on 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. Finally, Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $203.71.

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.