Avalon Trust Co Has $25.30 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Avalon Trust Co lessened its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,172 shares of the financial services provider’s stock after selling 1,950 shares during the period. The PNC Financial Services Group comprises 1.8% of Avalon Trust Co’s investment portfolio, making the stock its 14th largest holding. Avalon Trust Co’s holdings in The PNC Financial Services Group were worth $25,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. one8zero8 LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $623,000. Choate Investment Advisors increased its holdings in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Choate Investment Advisors now owns 8,846 shares of the financial services provider’s stock valued at $1,706,000 after purchasing an additional 207 shares during the period. Diversified Enterprises LLC increased its holdings in shares of The PNC Financial Services Group by 2.6% in the 4th quarter. Diversified Enterprises LLC now owns 3,895 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 100 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 25.1% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,635 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 730 shares during the period. Finally, Van Strum & Towne Inc. increased its holdings in shares of The PNC Financial Services Group by 28.0% in the 4th quarter. Van Strum & Towne Inc. now owns 1,602 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the sale, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at approximately $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 12,420 shares of company stock valued at $2,391,695. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 2.3 %

Shares of The PNC Financial Services Group stock opened at $172.80 on Friday. The stock has a market capitalization of $68.39 billion, a P/E ratio of 12.57, a PEG ratio of 1.55 and a beta of 1.13. 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 stock has a 50 day moving average price of $192.04 and a two-hundred day moving average price of $192.63. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PNC. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their price objective 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. The Goldman Sachs Group increased their price objective 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. Finally, Truist Financial increased their price objective 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. Two 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. Based on data from MarketBeat.com, the company currently has a consensus 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.