The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 83.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,070 shares of the financial services provider’s stock after selling 5,383 shares during the period. Atlanta Consulting Group Advisors LLC’s holdings in The PNC Financial Services Group were worth $206,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $172.80 on Monday. The stock’s 50-day moving average is $192.04 and its 200-day moving average is $192.71. The company has a market cap of $68.39 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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 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 posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the completion of the sale, the chief executive officer now owns 568,541 shares in the company, valued at approximately $101,672,187.03. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,391,695. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PNC shares. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler increased their price objective 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. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Truist Financial increased 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. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $205.00.

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.