Envestnet Portfolio Solutions Inc. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,237 shares of the financial services provider's stock after selling 1,601 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in The PNC Financial Services Group were worth $6,024,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock worth $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after buying an additional 3,100 shares during the period. Root Financial Partners LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $346,000. Finally, Truist Financial Corp raised its holdings in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider's stock valued at $218,429,000 after buying an additional 15,246 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.
The PNC Financial Services Group Stock Down 0.0 %
PNC stock traded down $0.06 during trading on Friday, hitting $173.35. 5,486,375 shares of the company's stock were exchanged, compared to its average volume of 1,762,755. The business has a 50-day moving average price of $190.35 and a two-hundred day moving average price of $192.30. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $68.60 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.16 EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is 46.55%.
Insider Transactions at The PNC Financial Services Group
In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the sale, the chief executive officer now directly owns 567,299 shares of the company's stock, valued at $97,093,223.85. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 12,420 shares of company stock worth $2,369,165. Corporate insiders own 0.42% of the company's stock.
Wall Street Analyst Weigh In
PNC has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research note on Friday, January 17th. Compass Point raised their price target on shares of 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. Finally, Stephens reaffirmed an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Hold" and an average price target of $203.71.
View Our Latest Stock Report on The PNC Financial Services Group
About The PNC Financial Services Group
(
Free Report)
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.
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