The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Aviva PLC

Aviva PLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 37.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,480 shares of the financial services provider's stock after selling 142,679 shares during the quarter. Aviva PLC owned 0.06% of The PNC Financial Services Group worth $46,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PNC. The Goldman Sachs Group cut their price objective 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 reduced their price target on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company decreased their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Citigroup dropped their target price 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 note on Monday, March 24th. Finally, Morgan Stanley decreased their price target on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $203.47.

The PNC Financial Services Group Stock Down 1.1 %

The PNC Financial Services Group stock traded down $1.68 during trading hours on Friday, reaching $150.48. The stock had a trading volume of 1,069,453 shares, compared to its average volume of 1,955,556. 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 market cap of $59.55 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The business's 50 day moving average price is $179.25 and its 200-day moving average price is $190.38.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during 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 PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.16 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.25%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $155.27, for a total transaction of $99,528.07. Following the sale, the chief executive officer now owns 564,174 shares of the company's stock, valued at approximately $87,599,296.98. The trade was a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 12,420 shares of company stock valued at $2,276,870 in the last ninety days. Corporate insiders own 0.41% of the company's stock.

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.