River Road Asset Management LLC Sells 20,135 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

River Road Asset Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 108,629 shares of the financial services provider’s stock after selling 20,135 shares during the period. River Road Asset Management LLC’s holdings in The PNC Financial Services Group were worth $20,949,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PNC. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $25,000. Richardson Financial Services Inc. boosted its holdings 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 valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 12,420 shares of company stock valued at $2,421,788 over the last 90 days. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their price target on 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. Finally, Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Trading Down 2.9 %

NYSE PNC opened at $174.58 on Tuesday. The firm has a market cap of $69.09 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.55 and a beta of 1.13. 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 stock’s 50-day moving average is $193.84 and its 200-day moving average is $192.95. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.16 earnings per share. Sell-side 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 firm 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 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.