Rodgers Brothers Inc. Has $2.64 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Rodgers Brothers Inc. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,664 shares of the financial services provider’s stock after selling 794 shares during the period. Rodgers Brothers Inc.’s holdings in The PNC Financial Services Group were worth $2,635,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Principal Financial Group Inc. raised its position in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares during the last quarter. CreativeOne Wealth LLC increased its stake in shares of The PNC Financial Services Group by 81.2% in the third quarter. CreativeOne Wealth LLC now owns 4,708 shares of the financial services provider’s stock valued at $870,000 after buying an additional 2,110 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after acquiring an additional 274,186 shares during the last quarter. Ironwood Investment Counsel LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth approximately $211,000. Finally, Encompass More Asset Management acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at approximately $201,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

PNC stock opened at $171.83 on Monday. The company has a market capitalization of $68.00 billion, a P/E ratio of 12.50, a price-to-earnings-growth 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 business has a 50-day simple moving average of $187.91 and a two-hundred day simple moving average of $192.21. 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 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, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors 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 3.72%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Wells Fargo & Company decreased their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Citigroup dropped their price target on 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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 PNC Financial Services Group stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $172.00, for a total transaction of $213,624.00. Following the transaction, the chief executive officer now owns 566,057 shares of the company’s stock, valued at $97,361,804. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 12,420 shares of company stock valued at $2,342,313 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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.