US Bancorp DE Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

US Bancorp DE trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,889 shares of the financial services provider's stock after selling 8,708 shares during the period. US Bancorp DE owned about 0.07% of The PNC Financial Services Group worth $51,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. increased its stake 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 stake in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares of the company's stock, valued at approximately $107,881,919.86. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 13,662 shares of company stock worth $2,681,664 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.0 %

NYSE:PNC traded down $0.08 during midday trading on Wednesday, reaching $180.37. 2,320,172 shares of the stock traded hands, compared to its average volume of 2,154,064. The stock has a market capitalization of $71.38 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. 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 business has a 50-day moving average of $194.79 and a two-hundred day moving average of $192.75.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid 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 dividend yield of 3.55%. The PNC Financial Services Group's payout ratio is 46.55%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PNC shares. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Compass Point lifted 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. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Morgan Stanley raised 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. Finally, Stephens reiterated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $205.00.

The PNC Financial Services Group Company 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.