The PNC Financial Services Group, Inc. (NYSE:PNC) Position Lessened by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,354 shares of the financial services provider’s stock after selling 3,262 shares during the quarter. Sterling Capital Management LLC’s holdings in The PNC Financial Services Group were worth $5,854,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its holdings in shares of The PNC Financial Services Group by 2,333.3% in 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 during the period. Albion Financial Group UT bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $30,000. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth about $32,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC opened at $151.57 on Friday. 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 firm has a market cap of $59.98 billion, a PE ratio of 11.02, a P/E/G ratio of 1.55 and a beta of 1.04. The business has a fifty day simple moving average of $178.30 and a 200-day simple moving average of $190.17. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly 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 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 PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $3.16 EPS. As a group, equities 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 firm also recently announced 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. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.22%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 601 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the transaction, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at approximately $90,171,680. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 12,420 shares of company stock worth $2,276,870. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNC. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Truist Financial cut their price objective on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Finally, Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating for the company in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $203.47.

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.