Blue Trust Inc. Sells 341 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Blue Trust Inc. trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.9% during the fourth quarter, HoldingsChannel reports. The fund owned 3,967 shares of the financial services provider’s stock after selling 341 shares during the quarter. Blue Trust Inc.’s holdings in The PNC Financial Services Group were worth $765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Red Cedar Investment Management LLC grew its holdings in The PNC Financial Services Group by 103.8% during the 4th quarter. Red Cedar Investment Management LLC now owns 12,113 shares of the financial services provider’s stock worth $2,336,000 after acquiring an additional 6,170 shares during the last quarter. New York State Teachers Retirement System grew its holdings in The PNC Financial Services Group by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 335,536 shares of the financial services provider’s stock worth $64,708,000 after acquiring an additional 14,367 shares during the last quarter. Asset Planning Inc bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $93,000. Banque Pictet & Cie SA bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $526,000. Finally, CFC Planning Co LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $2,486,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 0.8 %

The PNC Financial Services Group stock opened at $193.91 on Monday. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The firm has a market capitalization of $76.94 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The firm’s fifty day moving average price is $197.11 and its two-hundred day moving average price is $191.09. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the firm earned $3.16 earnings per share. The business’s quarterly revenue 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 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,730,549. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNC. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $205.00.

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.