Curi RMB Capital LLC Decreases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Curi RMB Capital LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,999 shares of the financial services provider’s stock after selling 1,216 shares during the period. Curi RMB Capital LLC’s holdings in The PNC Financial Services Group were worth $1,157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PNC. Principal Financial Group Inc. increased its stake in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after buying an additional 22,271 shares during the last quarter. Morse Asset Management Inc acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at approximately $481,000. Wealthquest Corp acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at $212,000. Wilmington Savings Fund Society FSB grew its position in The PNC Financial Services Group by 86.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock worth $6,367,000 after purchasing an additional 15,962 shares during the last quarter. Finally, Synovus Financial Corp increased its position in The PNC Financial Services Group by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock valued at $2,631,000 after acquiring an additional 509 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Citigroup lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Truist Financial dropped their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $200.88.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at $105,620,058.57. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 11,819 shares of company stock valued at $2,127,508. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.3 %

NYSE PNC opened at $152.05 on Monday. The firm’s 50 day moving average price is $173.63 and its two-hundred day moving average price is $189.24. The stock has a market cap of $60.17 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. 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 posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

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.