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

Van ECK Associates Corp trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 65.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,171 shares of the financial services provider's stock after selling 65,387 shares during the quarter. Van ECK Associates Corp's holdings in The PNC Financial Services Group were worth $6,590,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 worth $7,739,000 after buying an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of 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 worth $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock valued at $1,185,000 after acquiring an additional 2,009 shares in the last quarter. YANKCOM Partnership acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $457,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of The PNC Financial Services Group by 8.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,513 shares of the financial services provider's stock valued at $10,320,000 after purchasing an additional 4,345 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PNC shares. Morgan Stanley raised their price target on shares of 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 lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on 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. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Finally, Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 6th. The shares were sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,474,722. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 2.1 %

Shares of NYSE PNC traded down $3.99 during mid-day trading on Friday, reaching $187.90. The company had a trading volume of 1,991,887 shares, compared to its average volume of 2,191,146. The firm has a 50 day simple moving average of $196.08 and a two-hundred day simple moving average of $191.64. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $74.55 billion, a P/E ratio of 13.67, a PEG ratio of 1.57 and a beta of 1.16.

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 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company posted $3.16 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

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.