Atlanta Consulting Group Advisors LLC Lowers Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Atlanta Consulting Group Advisors LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 83.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,070 shares of the financial services provider's stock after selling 5,383 shares during the period. Atlanta Consulting Group Advisors LLC's holdings in The PNC Financial Services Group were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp boosted its stake in shares of The PNC Financial Services Group by 0.6% in the third 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. lifted its holdings in The PNC Financial Services Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider's stock worth $1,939,154,000 after purchasing an additional 123,994 shares in the last quarter. Geode Capital Management LLC boosted its stake in The PNC Financial Services Group by 2.0% in the 3rd 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 period. Bank of New York Mellon Corp grew 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 buying an additional 710,311 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of The PNC Financial Services Group by 1.5% during the third 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 buying an additional 42,887 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNC. Truist Financial upped their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Citigroup lifted their target price on 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. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $203.71.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 27th. The stock was sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the sale, the chief executive officer now directly owns 528,797 shares in the company, valued at approximately $102,385,675.14. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 13,662 shares of company stock worth $2,604,263 in the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Down 0.2 %

PNC traded down $0.41 during trading on Thursday, reaching $173.42. The company had a trading volume of 2,994,467 shares, compared to its average volume of 1,747,252. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The stock has a market cap of $68.63 billion, a P/E ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The business has a 50 day simple moving average of $190.77 and a 200-day simple moving average of $192.43.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The PNC Financial Services Group's payout ratio is 46.55%.

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.