The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Reduced by Empirical Finance LLC

Empirical Finance LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,804 shares of the financial services provider’s stock after selling 185 shares during the period. Empirical Finance LLC’s holdings in The PNC Financial Services Group were worth $2,662,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Finally, Valley Wealth Managers Inc. lifted its position in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,413 shares of company stock valued at $6,037,230. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Truist Financial increased their price target on shares of 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. Compass Point increased their price target on shares of 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. Finally, Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Trading Down 0.8 %

PNC opened at $200.80 on Friday. The company has a market cap of $79.67 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The firm has a 50 day simple moving average of $198.40 and a 200 day simple moving average of $190.45. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 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. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) 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.