The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Trimmed by American Century Companies Inc.

American Century Companies Inc. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 833,435 shares of the financial services provider’s stock after selling 118,134 shares during the quarter. American Century Companies Inc. owned approximately 0.21% of The PNC Financial Services Group worth $160,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in shares of The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of The PNC Financial Services Group by 12.7% during the third quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock valued at $6,857,000 after purchasing an additional 4,186 shares during the last quarter. LPL Financial LLC grew its holdings in shares of The PNC Financial Services Group by 5.2% during the third quarter. LPL Financial LLC now owns 628,897 shares of the financial services provider’s stock valued at $116,252,000 after purchasing an additional 31,318 shares during the last quarter. GM Advisory Group LLC bought a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $232,000. Finally, Meridian Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $1,071,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $173.35 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 fifty day moving average of $190.03 and a 200-day moving average of $192.27. The company has a market capitalization of $68.60 billion, a PE ratio of 12.61, 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 quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.69%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s 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 sale, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at $102,385,675.14. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 12,420 shares of company stock valued at $2,369,165 in the last three months. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PNC. 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 boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Compass Point boosted their price objective on 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. Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Truist Financial boosted their price objective on 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 given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $203.71.

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.