The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Reduced by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,238 shares of the financial services provider’s stock after selling 289 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in The PNC Financial Services Group were worth $432,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Insight Inv LLC grew its position in The PNC Financial Services Group by 5.2% in the 4th quarter. Insight Inv LLC now owns 10,312 shares of the financial services provider’s stock worth $1,989,000 after purchasing an additional 508 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in The PNC Financial Services Group by 6.0% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 1,672 shares of the financial services provider’s stock worth $322,000 after buying an additional 94 shares in the last quarter. apricus wealth LLC increased its position in The PNC Financial Services Group by 0.6% in the 4th quarter. apricus wealth LLC now owns 12,997 shares of the financial services provider’s stock valued at $2,506,000 after acquiring an additional 75 shares during the period. CX Institutional raised its stake in The PNC Financial Services Group by 17.5% during the 4th quarter. CX Institutional now owns 2,490 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 371 shares in the last quarter. Finally, Encompass More Asset Management boosted its position in The PNC Financial Services Group by 26.7% during the 4th quarter. Encompass More Asset Management now owns 1,376 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 290 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.6 %

PNC stock opened at $201.70 on Wednesday. The company’s 50 day simple moving average is $200.21 and its 200-day simple moving average is $189.03. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $80.03 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.17%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PNC. Morgan Stanley raised 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. Compass Point boosted their price target on shares of 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 increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Stephens reissued 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. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

Insider Transactions 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, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. 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 hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock valued at $6,021,569 over the last three months. 0.42% of the stock is owned by corporate insiders.

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.