The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by First National Trust Co

First National Trust Co decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,328 shares of the financial services provider's stock after selling 2,347 shares during the period. First National Trust Co's holdings in The PNC Financial Services Group were worth $3,535,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PNC. Principal Financial Group Inc. raised its holdings in The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after purchasing an additional 22,271 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in The PNC Financial Services Group during the third quarter worth about $230,000. Oppenheimer Asset Management Inc. raised its holdings in The PNC Financial Services Group by 0.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 24,277 shares of the financial services provider's stock worth $4,488,000 after purchasing an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in The PNC Financial Services Group by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,736 shares of the financial services provider's stock worth $2,354,000 after purchasing an additional 613 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in The PNC Financial Services Group by 6.8% during the third quarter. Plato Investment Management Ltd now owns 8,559 shares of the financial services provider's stock worth $1,581,000 after purchasing an additional 543 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Compass Point increased their price target on shares of 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. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Citigroup increased their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus price target of $203.71.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares in the company, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $0.51 during trading hours on Wednesday, hitting $173.86. The company's stock had a trading volume of 3,026,203 shares, compared to its average volume of 1,744,774. The business has a fifty day moving average of $191.18 and a 200-day moving average of $192.56. The stock has a market cap of $68.81 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (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 for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business earned $3.16 earnings per share. The PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 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.