TD Private Client Wealth LLC Has $5.88 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

TD Private Client Wealth LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,478 shares of the financial services provider’s stock after selling 2,649 shares during the period. TD Private Client Wealth LLC’s holdings in The PNC Financial Services Group were worth $5,878,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Independent Solutions Wealth Management LLC lifted its stake in shares of The PNC Financial Services Group by 452.3% in the 4th quarter. Independent Solutions Wealth Management LLC now owns 7,092 shares of the financial services provider’s stock valued at $1,368,000 after purchasing an additional 5,808 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of The PNC Financial Services Group by 6.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 74,523 shares of the financial services provider’s stock valued at $14,372,000 after purchasing an additional 4,764 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of The PNC Financial Services Group by 1.6% in the 4th quarter. Whittier Trust Co. now owns 160,997 shares of the financial services provider’s stock valued at $31,048,000 after purchasing an additional 2,543 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $3,770,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of The PNC Financial Services Group by 42.4% in the 4th quarter. Teacher Retirement System of Texas now owns 172,035 shares of the financial services provider’s stock valued at $33,177,000 after purchasing an additional 51,206 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares in the company, valued at $97,093,223.85. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 12,420 shares of company stock worth $2,369,165. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $173.42 on Friday. The firm has a market cap of $68.63 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.55 and a beta 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company’s 50-day moving average price is $190.35 and its two-hundred day moving average price is $192.30.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.69%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup boosted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley boosted their target price on shares of 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. Finally, Truist Financial boosted their target price 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $203.71.

About The PNC Financial Services Group

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.