Haverford Trust Co Sells 210 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Haverford Trust Co lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,028 shares of the financial services provider’s stock after selling 210 shares during the period. Haverford Trust Co’s holdings in The PNC Financial Services Group were worth $2,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th 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 bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent research reports. Truist Financial increased 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. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley upped their price target 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. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $201.65.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 13,662 shares of company stock valued at $2,582,789 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 1.7 %

Shares of The PNC Financial Services Group stock opened at $176.56 on Tuesday. 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 firm has a market cap of $69.88 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The business has a 50-day moving average price of $189.70 and a 200-day moving average price of $192.31.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 business had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. Equities research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

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.