Barlow Wealth Partners Inc. Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Barlow Wealth Partners Inc. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,109 shares of the financial services provider’s stock after selling 81 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in The PNC Financial Services Group were worth $2,026,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC raised 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 worth $5,160,000 after buying an additional 8,735 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group in the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC grew its position in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at $822,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $198.59 on Wednesday. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a fifty day moving average price of $201.17 and a 200-day moving average price of $187.72. 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 firm has a market cap of $78.80 billion, a PE ratio of 14.44, a P/E/G ratio of 1.62 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued 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 for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.16 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.2 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Piper Sandler raised 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 report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective 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. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Evercore ISI lifted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price target on 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In other news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the completion of the sale, the chief executive officer now owns 544,765 shares in the company, valued at approximately $103,652,436.55. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,171 shares of company stock worth $5,768,325. 0.42% of the stock is owned by company insiders.

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.