Empowered Funds LLC Sells 25,190 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Empowered Funds LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 75.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,091 shares of the financial services provider's stock after selling 25,190 shares during the period. Empowered Funds LLC's holdings in The PNC Financial Services Group were worth $1,560,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PNC. International Assets Investment Management LLC raised its stake in shares of The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock valued at $99,262,000 after buying an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock valued at $129,836,000 after acquiring an additional 433,178 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in The PNC Financial Services Group by 88.1% in 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 in the last quarter. Toronto Dominion Bank lifted its stake in The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock worth $82,768,000 after purchasing 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 third quarter. Eastern Bank now owns 248,812 shares of the financial services provider's stock valued at $45,993,000 after purchasing an additional 236,272 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analysts Set New Price Targets

PNC has been the subject of several analyst reports. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of 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, Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Hold" and an average price target of $205.00.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the transaction, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 13,662 shares of company stock worth $2,730,549. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 1.2 %

PNC stock traded down $2.33 during midday trading on Wednesday, reaching $194.19. The stock had a trading volume of 1,251,087 shares, compared to its average volume of 2,193,611. 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 twelve month low of $139.69 and a twelve month high of $216.26. The firm has a market cap of $77.05 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.56 and a beta of 1.16. The business has a fifty day simple moving average of $196.73 and a two-hundred day simple moving average of $191.47.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 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 paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

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.