Sabal Trust CO Trims Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sabal Trust CO cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,697 shares of the financial services provider’s stock after selling 8,575 shares during the period. The PNC Financial Services Group makes up 1.9% of Sabal Trust CO’s portfolio, making the stock its 11th largest holding. Sabal Trust CO’s holdings in The PNC Financial Services Group were worth $33,497,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its holdings in 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 worth $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $37,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the topic of several analyst reports. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 13,662 shares of company stock valued at $2,713,745. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 0.2 %

Shares of NYSE PNC opened at $186.55 on Wednesday. The stock has a market cap of $74.02 billion, a PE ratio of 13.57, a P/E/G ratio of 1.55 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 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a 50-day moving average of $195.56 and a 200 day moving average of $192.21.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 earnings per share. As a group, sell-side analysts predict 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued 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 dividend yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio is presently 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.