Russell Investments Group Ltd. Lowers Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Russell Investments Group Ltd. cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 175,799 shares of the financial services provider’s stock after selling 6,932 shares during the quarter. Russell Investments Group Ltd.’s holdings in The PNC Financial Services Group were worth $33,890,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Baltimore Washington Financial Advisors Inc. raised its stake in shares of The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 53 shares during the period. Transcend Capital Advisors LLC boosted its stake in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 56 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in The PNC Financial Services Group by 2.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 58 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Activity 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 dated Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the transaction, the chief executive officer now owns 525,071 shares in the company, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 12,420 shares of company stock worth $2,320,739 in the last three months. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Truist Financial decreased their price objective on The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating for the company in a report on Friday. Barclays boosted their target price on shares of 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. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their price target for the stock from $206.00 to $202.00 in a report on Monday, March 31st. JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $203.47.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $152.47 on Tuesday. The company’s fifty day moving average is $183.93 and its 200 day moving average is $191.55. 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 PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The stock has a market cap of $60.34 billion, a PE ratio of 11.09, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 analyst estimates of $5.51 billion. During the same quarter in the previous year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Research 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 46.55%.

The PNC Financial Services Group Company 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.