River Road Asset Management LLC Sells 20,135 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

River Road Asset Management LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,629 shares of the financial services provider's stock after selling 20,135 shares during the quarter. River Road Asset Management LLC's holdings in The PNC Financial Services Group were worth $20,949,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PNC. Bank of New York Mellon Corp lifted its holdings in The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after purchasing an additional 710,311 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in The PNC Financial Services Group by 88.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider's stock valued at $108,217,000 after purchasing an additional 274,186 shares during the last quarter. Toronto Dominion Bank lifted its holdings in The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock valued at $82,768,000 after purchasing an additional 252,473 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $37,587,000. Finally, KBC Group NV lifted its holdings in The PNC Financial Services Group by 214.4% during the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider's stock valued at $52,375,000 after purchasing an additional 185,210 shares during 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

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Piper Sandler lifted their target price on 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. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Stephens reissued an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $2.38 during midday trading on Thursday, reaching $168.63. The company's stock had a trading volume of 2,054,120 shares, compared to its average volume of 2,170,196. 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $192.50 and a 200-day moving average price of $192.58. The stock has a market cap of $66.74 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at approximately $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 13,662 shares of company stock worth $2,643,895. Insiders own 0.42% of the company's stock.

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.