Vinva Investment Management Ltd Cuts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vinva Investment Management Ltd decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,103 shares of the financial services provider's stock after selling 1,853 shares during the period. Vinva Investment Management Ltd's holdings in The PNC Financial Services Group were worth $2,330,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Brooklyn FI LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth $410,000. Enhancing Capital LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $238,000. Generali Asset Management SPA SGR acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $6,077,000. Horizon Investments LLC raised its holdings in The PNC Financial Services Group by 1.5% in the 4th quarter. Horizon Investments LLC now owns 12,366 shares of the financial services provider's stock valued at $2,365,000 after buying an additional 177 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its position in The PNC Financial Services Group by 152.0% during the 4th quarter. Mystic Asset Management Inc. now owns 12,334 shares of the financial services provider's stock worth $2,379,000 after buying an additional 7,439 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PNC shares. Compass Point raised their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Stephens reaffirmed 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. The Goldman Sachs Group reduced their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Citigroup cut their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Truist Financial increased their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $201.65.

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Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the transaction, the chief executive officer now owns 528,797 shares in the company, valued at $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 is available through this hyperlink. In the last quarter, insiders have sold 13,662 shares of company stock valued at $2,582,789. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 1.7 %

The PNC Financial Services Group stock traded up $2.95 during mid-day trading on Monday, reaching $176.56. The stock had a trading volume of 2,924,435 shares, compared to its average volume of 1,762,970. The firm has a market capitalization of $69.88 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The stock's 50-day simple moving average is $190.03 and its 200-day simple moving average is $192.34. 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 quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors 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 dividend on an annualized basis and a dividend yield of 3.62%. The PNC Financial Services Group's dividend payout ratio is presently 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.