American Century Companies Inc. Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

American Century Companies Inc. lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 833,435 shares of the financial services provider's stock after selling 118,134 shares during the quarter. American Century Companies Inc. owned 0.21% of The PNC Financial Services Group worth $160,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its holdings in shares of 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 worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Compass Point upped their price target on 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. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a report on Friday, January 17th. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, Morgan Stanley upped their price target on 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $201.65.

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The PNC Financial Services Group Stock Performance

Shares of PNC traded down $1.82 during midday trading on Thursday, reaching $175.10. 2,324,356 shares of the stock were exchanged, compared to its average volume of 1,769,550. The stock's 50 day simple moving average is $188.86 and its 200 day simple moving average is $192.20. 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 market cap of $69.30 billion, a P/E ratio of 12.73, a PEG ratio of 1.55 and a beta of 1.13. 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 (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for 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 company's revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 EPS. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now directly owns 527,555 shares in the company, valued at $101,369,693.25. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 13,662 shares of company stock valued at $2,582,789 in the last ninety days. 0.42% of the stock is owned by company insiders.

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.