Avalon Trust Co Has $25.30 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Avalon Trust Co trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 131,172 shares of the financial services provider’s stock after selling 1,950 shares during the period. The PNC Financial Services Group comprises 1.8% of Avalon Trust Co’s investment portfolio, making the stock its 14th largest holding. Avalon Trust Co’s holdings in The PNC Financial Services Group were worth $25,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. raised its stake in shares of 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 purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the fourth quarter worth $30,000. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $172.80 on Friday. The business’s 50-day simple moving average is $192.04 and its 200 day simple moving average is $192.63. The stock has a market cap of $68.39 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.16 earnings per share. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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 firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $178.83, for a total transaction of $222,106.86. Following the transaction, the chief executive officer now owns 568,541 shares in the company, valued at approximately $101,672,187.03. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 12,420 shares of company stock worth $2,391,695 over the last 90 days. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PNC shares. Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial increased their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $205.00.

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.