iA Global Asset Management Inc. Sells 9,117 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

iA Global Asset Management Inc. lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 65.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,713 shares of the financial services provider's stock after selling 9,117 shares during the quarter. iA Global Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. State Street Corp lifted its holdings in shares of The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock worth $3,197,791,000 after acquiring an additional 100,573 shares during the period. Franklin Resources Inc. raised its position in The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider's stock valued at $1,939,154,000 after purchasing an additional 123,994 shares in the last quarter. Geode Capital Management LLC lifted its stake in The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock worth $1,541,155,000 after purchasing an additional 166,138 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after purchasing an additional 710,311 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of The PNC Financial Services Group by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock valued at $545,380,000 after purchasing an additional 42,887 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently weighed in on PNC. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Stephens reiterated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Finally, Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $201.65.

The PNC Financial Services Group Trading Down 0.0 %

Shares of PNC stock traded down $0.00 during mid-day trading on Wednesday, hitting $176.88. The company's stock had a trading volume of 1,846,952 shares, compared to its average volume of 1,764,833. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. 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 company's fifty day simple moving average is $189.33 and its 200-day simple moving average is $192.31. The company has a market cap of $70.00 billion, a PE ratio of 12.86, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its 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 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 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 in the previous year, the company posted $3.16 earnings per share. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the transaction, the chief executive officer now owns 527,555 shares of the company's stock, valued at $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 13,662 shares of company stock valued at $2,582,789. Corporate insiders own 0.42% of the company's stock.

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.