Orion Portfolio Solutions LLC Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Orion Portfolio Solutions LLC lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 37.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,718 shares of the financial services provider's stock after selling 16,491 shares during the period. Orion Portfolio Solutions LLC's holdings in The PNC Financial Services Group were worth $5,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. Diversify Advisory Services LLC raised its position in shares of The PNC Financial Services Group by 10.7% in the second quarter. Diversify Advisory Services LLC now owns 1,951 shares of the financial services provider's stock valued at $315,000 after purchasing an additional 189 shares during the period. RFG Advisory LLC bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $253,000. Sequoia Financial Advisors LLC raised its position in shares of The PNC Financial Services Group by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 9,073 shares of the financial services provider's stock valued at $1,411,000 after purchasing an additional 352 shares during the period. Wedmont Private Capital raised its position in shares of The PNC Financial Services Group by 14.3% in the second quarter. Wedmont Private Capital now owns 3,913 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 489 shares during the period. Finally, M&G Plc raised its position in shares of The PNC Financial Services Group by 50.6% in the second quarter. M&G Plc now owns 55,260 shares of the financial services provider's stock valued at $8,565,000 after purchasing an additional 18,564 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 2.0 %

Shares of The PNC Financial Services Group stock traded down $4.14 during trading on Monday, hitting $204.49. The company's stock had a trading volume of 1,598,836 shares, compared to its average volume of 1,867,152. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a fifty day simple moving average of $197.02 and a two-hundred day simple moving average of $178.93. The company has a market capitalization of $81.14 billion, a PE ratio of 17.29, a P/E/G ratio of 2.18 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm posted $3.60 EPS. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 54.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on PNC shares. Citigroup upped their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, November 25th. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday. Bank of America raised shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Piper Sandler upped their target price 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. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and an average target price of $195.84.

Insider Activity at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company's stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $181.35, for a total transaction of $225,236.70. Following the sale, the chief executive officer now directly owns 548,491 shares in the company, valued at approximately $99,468,842.85. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,030 shares of company stock valued at $5,873,691. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Company 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.