Hantz Financial Services Inc. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,375 shares of the financial services provider's stock after selling 1,779 shares during the quarter. Hantz Financial Services Inc.'s holdings in The PNC Financial Services Group were worth $8,558,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. AQR Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider's stock valued at $6,983,000 after buying an additional 5,640 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of The PNC Financial Services Group by 31.0% during the second quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider's stock worth $5,099,000 after purchasing an additional 7,765 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The PNC Financial Services Group by 9.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 39,397 shares of the financial services provider's stock valued at $6,125,000 after purchasing an additional 3,240 shares during the last quarter. Quarry LP boosted its position in shares of The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 170 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in The PNC Financial Services Group by 11.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,725 shares of the financial services provider's stock worth $579,000 after buying an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.
Insider Activity at The PNC Financial Services Group
In related news, Director Andrew T. Feldstein sold 14,509 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company's stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares in the company, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,413 shares of company stock valued at $6,021,569. Insiders own 0.42% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on PNC shares. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Truist Financial increased 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. Piper Sandler boosted 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. Finally, Citigroup increased their price objective on 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. Two equities research 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 MarketBeat, the company currently has an average rating of "Hold" and an average price target of $205.00.
Get Our Latest Research Report on PNC
The PNC Financial Services Group Stock Performance
Shares of NYSE PNC traded up $1.76 during midday trading on Thursday, hitting $203.94. The company's stock had a trading volume of 426,499 shares, compared to its average volume of 2,418,649. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm's fifty day moving average price is $200.11 and its 200-day moving average price is $189.35. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The firm has a market cap of $80.92 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.59 and a beta of 1.16.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.16 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group's payout ratio is presently 46.55%.
The PNC Financial Services Group Company Profile
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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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