UNIVEST FINANCIAL Corp Cuts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

UNIVEST FINANCIAL Corp decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,981 shares of the financial services provider's stock after selling 1,741 shares during the period. UNIVEST FINANCIAL Corp's holdings in The PNC Financial Services Group were worth $768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of The PNC Financial Services Group by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after buying an additional 3,100 shares during the last quarter. PKS Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $357,000. Finally, Root Financial Partners LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $346,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNC. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" 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 company a "neutral" rating in a research report on Tuesday, December 10th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Truist Financial increased their target price on 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. Finally, HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price objective for the company from $206.00 to $202.00 in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus price target of $204.12.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares of the company's stock, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 12,420 shares of company stock worth $2,342,313 in the last 90 days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Up 2.3 %

Shares of NYSE PNC traded up $3.99 during mid-day trading on Monday, hitting $175.87. 3,595,736 shares of the stock traded hands, compared to its average volume of 1,881,971. The stock has a fifty day moving average price of $187.46 and a 200-day moving average price of $192.20. 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 company has a market cap of $69.60 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.55 and a beta 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 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 EPS for the quarter, beating 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 analysts' expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.64%. The PNC Financial Services Group's payout ratio is 46.55%.

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.