River Road Asset Management LLC Sells 20,135 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

River Road Asset Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,629 shares of the financial services provider’s stock after selling 20,135 shares during the quarter. River Road Asset Management LLC’s holdings in The PNC Financial Services Group were worth $20,949,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after purchasing an additional 100,573 shares during the period. Franklin Resources Inc. boosted its position in The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after purchasing an additional 123,994 shares during the period. Geode Capital Management LLC boosted its position in The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares during the period. Bank of New York Mellon Corp boosted its position in The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in The PNC Financial Services Group by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock worth $545,380,000 after purchasing an additional 42,887 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $174.58 on Tuesday. 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 stock has a fifty day moving average price of $193.84 and a two-hundred day moving average price of $192.95. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The firm has a market capitalization of $69.09 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.55 and a beta 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 (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 firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.67%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a 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 stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Compass Point upped 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. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 20th. The stock was 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 directly owns 530,039 shares in the company, valued at $100,331,082.31. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 12,420 shares of company stock worth $2,421,788 over the last three months. 0.42% of the stock is currently owned by corporate 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.