Brandes Investment Partners LP Has $149.85 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brandes Investment Partners LP decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 777,051 shares of the financial services provider's stock after selling 135,335 shares during the period. The PNC Financial Services Group accounts for about 1.7% of Brandes Investment Partners LP's investment portfolio, making the stock its 18th largest holding. Brandes Investment Partners LP owned 0.20% of The PNC Financial Services Group worth $149,854,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. grew its position in 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 worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Institutional investors own 83.53% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on PNC. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Piper Sandler lifted their price target 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. Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Truist Financial lifted their price target 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. Finally, Barclays lifted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Hold" and an average target price of $203.71.

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE:PNC traded up $0.51 during trading on Wednesday, reaching $173.86. 3,026,203 shares of the company traded hands, compared to its average volume of 1,744,774. The firm has a fifty day simple moving average of $191.18 and a 200 day simple moving average of $192.56. The firm has a market cap of $68.81 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. 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 (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The company 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 company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the sale, the chief executive officer now owns 528,797 shares of the company's stock, valued at approximately $102,385,675.14. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 13,662 shares of company stock valued at $2,604,263. Insiders own 0.42% of the company's stock.

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.