Wealth Alliance Sells 997 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealth Alliance decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,623 shares of the financial services provider’s stock after selling 997 shares during the period. Wealth Alliance’s holdings in The PNC Financial Services Group were worth $2,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares during the period. Concurrent Investment Advisors LLC increased its position in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 2,009 shares during the period. Root Financial Partners LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $346,000. Finally, YANKCOM Partnership acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $457,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,730,549. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PNC shares. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point increased their price objective 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. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley increased their price objective 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, Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Trading Down 1.2 %

NYSE:PNC opened at $194.19 on Thursday. 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 stock has a market capitalization of $77.05 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.59 and a beta of 1.16. The firm has a fifty day simple moving average of $196.55 and a two-hundred day simple moving average of $191.49. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 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 business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $3.16 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

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.