EverSource Wealth Advisors LLC Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

EverSource Wealth Advisors LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,845 shares of the financial services provider’s stock after selling 204 shares during the period. EverSource Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp lifted its stake in shares of 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 valued at $3,197,791,000 after buying an additional 100,573 shares during the period. Franklin Resources Inc. lifted its stake in shares of 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 valued at $1,939,154,000 after buying an additional 123,994 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 valued at $1,541,155,000 after buying an additional 166,138 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $746,435,000 after buying an additional 710,311 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 valued at $545,380,000 after buying an additional 42,887 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 2.3 %

NYSE PNC opened at $172.80 on Friday. The stock has a market cap of $68.39 billion, a PE ratio of 12.57, a P/E/G ratio of 1.55 and a beta of 1.13. The business has a 50 day moving average price of $192.04 and a two-hundred day moving average price of $192.54. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week 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 quarterly earnings results 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.16 EPS. As a group, sell-side analysts predict 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 company 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. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Activity at The PNC Financial Services Group

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 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares in the company, valued at $102,385,675.14. 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 link. In the last three months, insiders sold 12,420 shares of company stock valued at $2,391,695. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNC. Wells Fargo & Company upped their price objective on shares of 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. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Compass Point upped their price target 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. Finally, Truist Financial upped their price target 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 research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Company 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.