Russell Investments Group Ltd. Has $33.89 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Russell Investments Group Ltd. decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,799 shares of the financial services provider's stock after selling 6,932 shares during the period. Russell Investments Group Ltd.'s holdings in The PNC Financial Services Group were worth $33,890,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its position in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on PNC. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Truist Financial decreased their target price on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Barclays boosted their price target 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. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Morgan Stanley dropped their price target on The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $203.47.

Remove Ads

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the sale, the chief executive officer now owns 523,829 shares in the company, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 12,420 shares of company stock worth $2,276,870. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Price Performance

PNC stock traded down $0.59 during mid-day trading on Friday, hitting $151.57. The stock had a trading volume of 3,850,177 shares, compared to its average volume of 1,970,491. The firm has a fifty day simple moving average of $178.30 and a 200 day simple moving average of $190.22. 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 firm has a market capitalization of $59.98 billion, a P/E ratio of 11.02, 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 Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate 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 PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.16 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

About The PNC Financial Services Group

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.