The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 53.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,171 shares of the financial services provider's stock after selling 2,536 shares during the period. Insigneo Advisory Services LLC's holdings in The PNC Financial Services Group were worth $419,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mechanics Financial Corp acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $541,000. AssuredPartners Investment Advisors LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $739,000. Premier Fund Managers Ltd raised its holdings in The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock valued at $9,511,000 after acquiring an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 48.5% in the 4th 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. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 12,460 shares of company stock worth $2,223,979. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $200.88.

The PNC Financial Services Group Stock Up 2.4 %

Shares of PNC traded up $3.78 during midday trading on Wednesday, hitting $158.23. The company had a trading volume of 965,840 shares, compared to its average volume of 1,987,478. The company's 50-day simple moving average is $171.91 and its 200-day simple moving average is $188.77. 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 PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a market capitalization of $62.62 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.04%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

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.