Cambiar Investors LLC Reduces Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cambiar Investors LLC reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,905 shares of the financial services provider's stock after selling 4,570 shares during the quarter. The PNC Financial Services Group makes up about 1.8% of Cambiar Investors LLC's holdings, making the stock its 24th largest position. Cambiar Investors LLC owned about 0.06% of The PNC Financial Services Group worth $44,916,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PNC. International Assets Investment Management LLC grew its position in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock valued at $99,262,000 after purchasing an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in The PNC Financial Services Group by 160.9% during the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock worth $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider's stock worth $108,217,000 after purchasing an additional 274,186 shares during the last quarter. Toronto Dominion Bank boosted its holdings in The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock valued at $82,768,000 after acquiring an additional 252,473 shares during the period. Finally, Eastern Bank boosted its holdings in The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider's stock valued at $45,993,000 after acquiring an additional 236,272 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 0.8 %

Shares of NYSE:PNC traded down $1.52 during trading on Friday, hitting $193.91. The stock had a trading volume of 2,362,011 shares, compared to its average volume of 2,228,644. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month 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 company has a market capitalization of $76.94 billion, a PE ratio of 14.10, a PEG ratio of 1.64 and a beta of 1.16. The firm's fifty day moving average is $197.40 and its 200 day moving average is $190.93.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company earned $3.16 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Insider Activity 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 stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the sale, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 13,662 shares of company stock valued at $2,730,549 in the last 90 days. Corporate insiders own 0.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Piper Sandler upped their price target on 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. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $205.00.

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.