The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,492 shares of the financial services provider's stock after selling 23,248 shares during the quarter. Stifel Financial Corp owned about 0.13% of The PNC Financial Services Group worth $96,520,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 601 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the sale, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at $90,171,680. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 11,819 shares of company stock valued at $2,127,508 in the last 90 days. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial decreased their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Stephens reissued an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Citigroup decreased their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Stock Down 1.4 %

Shares of NYSE:PNC opened at $150.19 on Tuesday. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a market capitalization of $59.44 billion, a PE ratio of 10.92, a P/E/G ratio of 1.55 and a beta of 1.04. The company's fifty day moving average is $172.72 and its 200-day moving average is $189.01. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.26%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

The PNC Financial Services Group 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.

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