Sage Mountain Advisors LLC Has $462,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sage Mountain Advisors LLC lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,397 shares of the financial services provider’s stock after selling 150 shares during the period. Sage Mountain Advisors LLC’s holdings in The PNC Financial Services Group were worth $462,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P lifted its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after buying an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. raised its position in shares of The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares during the last quarter. Transcend Capital Advisors LLC increased its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the period. Finally, Altman Advisors Inc. raised its holdings in The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the sale, the chief executive officer now owns 530,039 shares in the company, valued at $100,331,082.31. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 13,662 shares of company stock valued at $2,643,895. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. 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. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Morgan Stanley raised their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Piper Sandler boosted 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 note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Down 2.6 %

The PNC Financial Services Group stock opened at $170.15 on Wednesday. The firm has a market capitalization of $67.34 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The firm’s fifty day moving average price is $193.39 and its two-hundred day moving average price is $192.90. 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 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 announced 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 business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 EPS. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.76%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

The PNC Financial Services Group 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.