The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 478,544 shares of the financial services provider’s stock after selling 36,209 shares during the quarter. The PNC Financial Services Group comprises approximately 0.9% of Jupiter Asset Management Ltd.’s portfolio, making the stock its 11th largest holding. Jupiter Asset Management Ltd. owned about 0.12% of The PNC Financial Services Group worth $92,287,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PNC. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 13,662 shares of company stock valued at $2,643,895 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup upped their price target on shares of 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. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial upped their price target on shares of 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. Finally, Compass Point upped 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 report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $170.15 on Wednesday. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year 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 company has a 50 day moving average price of $193.39 and a 200 day moving average price of $192.90. The firm has a market capitalization of $67.34 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. 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 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s 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.