The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Glenview Trust co

Glenview Trust co reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,100 shares of the financial services provider’s stock after selling 1,442 shares during the quarter. Glenview Trust co’s holdings in The PNC Financial Services Group were worth $11,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of The PNC Financial Services Group by 22.5% during the 4th 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 acquiring an additional 710,311 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after purchasing an additional 274,186 shares during the last quarter. Toronto Dominion Bank increased its position in The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after purchasing an additional 252,473 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $37,587,000. Finally, KBC Group NV boosted its holdings in shares of The PNC Financial Services Group by 214.4% in the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock valued at $52,375,000 after purchasing an additional 185,210 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 2.3 %

Shares of PNC opened at $172.80 on Friday. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The stock has a 50-day moving average price of $192.04 and a 200 day moving average price of $192.63. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $68.39 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 EPS. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. In the last 90 days, insiders have sold 12,420 shares of company stock worth $2,391,695. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PNC shares. Piper Sandler increased their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price objective 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. Morgan Stanley boosted their target price 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. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Barclays boosted 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. 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 company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $205.00.

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.