The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Tufton Capital Management

Tufton Capital Management lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,110 shares of the financial services provider’s stock after selling 152 shares during the quarter. Tufton Capital Management’s holdings in The PNC Financial Services Group were worth $1,757,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fortress Financial Group LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $268,000. Dynasty Wealth Management LLC grew its position in The PNC Financial Services Group by 4.5% in the fourth quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider’s stock worth $285,000 after buying an additional 64 shares during the last quarter. Private Trust Co. NA grew its position in The PNC Financial Services Group by 1.8% in the fourth quarter. Private Trust Co. NA now owns 10,122 shares of the financial services provider’s stock worth $1,952,000 after buying an additional 178 shares during the last quarter. Hosking Partners LLP grew its position in The PNC Financial Services Group by 22.7% in the fourth quarter. Hosking Partners LLP now owns 85,129 shares of the financial services provider’s stock worth $16,417,000 after buying an additional 15,747 shares during the last quarter. Finally, Argyle Capital Management LLC grew its position in The PNC Financial Services Group by 1.2% in the fourth quarter. Argyle Capital Management LLC now owns 32,903 shares of the financial services provider’s stock worth $6,345,000 after buying an additional 385 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PNC. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Barclays raised 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 note on Monday, January 6th. The Goldman Sachs Group raised 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 note on Friday, December 6th. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Up 0.8 %

PNC stock opened at $188.46 on Friday. 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, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a fifty day simple moving average of $195.43 and a 200 day simple moving average of $192.15. The firm has a market cap of $74.78 billion, a PE ratio of 13.71, a PEG ratio of 1.55 and a beta of 1.16.

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 (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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 12,420 shares of company stock worth $2,445,461 in the last quarter. 0.42% of the stock is currently owned by company insiders.

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.