Chevy Chase Trust Holdings LLC Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Chevy Chase Trust Holdings LLC trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,182 shares of the financial services provider's stock after selling 4,890 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of The PNC Financial Services Group worth $41,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its stake in shares of The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 50 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after buying an additional 53 shares during the period. MFA Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after buying an additional 55 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its stake in shares of The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock valued at $3,148,000 after buying an additional 56 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the transaction, the chief executive officer now directly owns 535,007 shares of the company's stock, valued at $110,200,741.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 13,662 shares of company stock worth $2,730,549. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Up 1.2 %

Shares of NYSE:PNC traded up $2.29 on Tuesday, hitting $196.20. 2,226,668 shares of the company traded hands, compared to its average volume of 2,205,580. The stock has a 50 day simple moving average of $196.90 and a 200-day simple moving average of $191.28. 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 cap of $77.85 billion, a PE ratio of 14.27, a PEG ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26.

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, beating analysts' consensus estimates of $3.26 by $0.51. The business 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% compared to the same quarter last year. During the same period last year, the business earned $3.16 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current 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 given a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.26%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Compass Point raised their target price 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. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. 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. Finally, Piper Sandler lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus price target of $205.00.

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.