Pinnacle Wealth Management Advisory Group LLC Has $1.99 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pinnacle Wealth Management Advisory Group LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,316 shares of the financial services provider’s stock after selling 154 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $1,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Valmark Advisers Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares during the last quarter. L.M. Kohn & Company raised its stake in shares of The PNC Financial Services Group by 3.7% in the fourth quarter. L.M. Kohn & Company now owns 5,009 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 181 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $12,244,000. Allworth Financial LP raised its stake in shares of The PNC Financial Services Group by 55.8% in the fourth quarter. Allworth Financial LP now owns 22,096 shares of the financial services provider’s stock valued at $4,337,000 after purchasing an additional 7,913 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in shares of The PNC Financial Services Group by 26.8% in the fourth quarter. Principal Securities Inc. now owns 5,458 shares of the financial services provider’s stock valued at $1,053,000 after purchasing an additional 1,152 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Piper Sandler upped their price target on 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. Finally, Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $193.91 on Friday. The business’s 50-day simple moving average is $197.11 and its 200 day simple moving average is $191.02. The stock has a market cap of $76.94 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 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 released its 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.16 earnings per share. As a group, research 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the completion of the sale, the chief executive officer now directly owns 535,007 shares of the company’s stock, valued at $110,200,741.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 13,662 shares of company stock worth $2,730,549 in the last 90 days. Corporate insiders own 0.42% 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.