The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,885,869 shares of the financial services provider’s stock after selling 322,754 shares during the quarter. The PNC Financial Services Group makes up approximately 0.8% of Federated Hermes Inc.’s portfolio, making the stock its 17th biggest position. Federated Hermes Inc.’s holdings in The PNC Financial Services Group were worth $363,690,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its position in The PNC Financial Services Group by 0.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 59 shares during the period. Ted Buchan & Co increased its holdings in shares of The PNC Financial Services Group by 2.7% in the fourth quarter. Ted Buchan & Co now owns 7,521 shares of the financial services provider’s stock valued at $1,450,000 after purchasing an additional 201 shares during the period. Payden & Rygel purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $16,007,000. Wedbush Securities Inc. lifted its holdings in shares of The PNC Financial Services Group by 38.1% during the fourth quarter. Wedbush Securities Inc. now owns 4,681 shares of the financial services provider’s stock worth $903,000 after purchasing an additional 1,291 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in The PNC Financial Services Group by 0.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,651,217 shares of the financial services provider’s stock valued at $318,437,000 after buying an additional 12,150 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $152.85 on Friday. 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 company has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50-day moving average price of $184.93 and a two-hundred day moving average price of $191.73. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $3.16 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Wells Fargo & Company reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. 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. Finally, Citigroup dropped their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.18.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the transaction, the chief executive officer now directly owns 525,071 shares in the company, valued at approximately $103,964,058. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 12,420 shares of company stock valued at $2,320,739 over the last quarter. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group 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.