LVW Advisors LLC Has $1.51 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

LVW Advisors LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,830 shares of the financial services provider’s stock after selling 446 shares during the quarter. LVW Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its position in The PNC Financial Services Group by 9.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after purchasing an additional 2,670 shares during the last quarter. XTX Topco Ltd acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth $512,000. Intech Investment Management LLC grew its position in The PNC Financial Services Group by 65.9% in the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,193 shares during the last quarter. Ieq Capital LLC grew its position in The PNC Financial Services Group by 22.0% in the 2nd quarter. Ieq Capital LLC now owns 14,976 shares of the financial services provider’s stock worth $2,328,000 after purchasing an additional 2,697 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of The PNC Financial Services Group by 16.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 334,744 shares of the financial services provider’s stock worth $52,046,000 after acquiring an additional 47,618 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,030 shares of company stock valued at $5,928,202. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE PNC opened at $198.36 on Monday. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a market cap of $78.71 billion, a PE ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $201.40 and a two-hundred day moving average of $187.23.

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 for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Analysts Set New Price Targets

A number of research firms have recently commented on PNC. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday. Compass Point raised their price objective on shares of 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. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two research 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.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price 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.