Grandfield & Dodd LLC Cuts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Grandfield & Dodd LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,276 shares of the financial services provider’s stock after selling 121 shares during the period. Grandfield & Dodd LLC’s holdings in The PNC Financial Services Group were worth $246,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC increased its stake in The PNC Financial Services Group by 87.1% in the 4th quarter. Garrett Wealth Advisory Group LLC now owns 2,328 shares of the financial services provider’s stock valued at $449,000 after buying an additional 1,084 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of The PNC Financial Services Group by 24.8% during the fourth quarter. Fidelis Capital Partners LLC now owns 5,287 shares of the financial services provider’s stock valued at $1,045,000 after acquiring an additional 1,052 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in The PNC Financial Services Group during the fourth quarter worth $191,000. Jones Financial Companies Lllp boosted its position in The PNC Financial Services Group by 30.5% in the fourth quarter. Jones Financial Companies Lllp now owns 27,887 shares of the financial services provider’s stock worth $5,378,000 after purchasing an additional 6,514 shares during the last quarter. Finally, Modera Wealth Management LLC grew its stake in The PNC Financial Services Group by 2.2% in the 4th quarter. Modera Wealth Management LLC now owns 156,470 shares of the financial services provider’s stock valued at $30,175,000 after purchasing an additional 3,354 shares during the period. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the transaction, the chief executive officer now directly owns 571,025 shares in the company, valued at $109,893,761.25. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 12,420 shares of company stock valued at $2,445,461. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Up 1.9 %

Shares of NYSE PNC opened at $192.05 on Monday. 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 company has a market cap of $76.00 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The business has a 50-day simple moving average of $195.42 and a two-hundred day simple moving average of $192.66.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.16 earnings per share. Research analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given 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 3.33%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their target price 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. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Compass Point lifted 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 report on Tuesday, December 10th. Finally, Truist Financial increased their price objective 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.