Transamerica Financial Advisors Inc. Trims Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Transamerica Financial Advisors Inc. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,810 shares of the financial services provider’s stock after selling 1,098 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. grew its holdings in shares of The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after buying an additional 3,100 shares during the last quarter. PKS Advisory Services LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $357,000. Finally, Root Financial Partners LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $346,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $171.83 on Friday. The firm has a market capitalization of $68.00 billion, a PE ratio of 12.50, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The firm’s 50-day simple moving average is $187.91 and its 200 day simple moving average is $192.10. 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 announced 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business 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. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analysts Set New Price Targets

Several brokerages have weighed in on PNC. Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Morgan Stanley lifted their price objective 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. Wells Fargo & Company cut 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. Citigroup dropped their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $204.25.

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, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This trade 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 $2,342,313 over the last quarter. Insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

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.