The PNC Financial Services Group, Inc (NYSE:PNC) Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 137,866 shares of the financial services provider’s stock after selling 1,357 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in The PNC Financial Services Group were worth $24,233,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $35,000. REAP Financial Group LLC boosted its position in shares of The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after buying an additional 80 shares during the period. Hoey Investments Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $39,000. Finally, True Wealth Design LLC grew its holdings in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after buying an additional 59 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PNC shares. Royal Bank Of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Barclays reduced their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday. Truist Financial dropped their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.35.

Insider Buying and Selling

In related news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 10,787 shares of company stock valued at $1,782,794. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.3%

PNC stock opened at $195.10 on Friday. The firm has a market cap of $77.18 billion, a PE ratio of 13.78, a P/E/G ratio of 1.65 and a beta of 1.07. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $175.10 and a 200 day simple moving average of $180.09.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.49%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

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.