The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,979 shares of the financial services provider’s stock after selling 109 shares during the quarter. Trust Co. of Vermont’s holdings in The PNC Financial Services Group were worth $767,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after acquiring an additional 532,871 shares during the period. Assenagon Asset Management S.A. raised its holdings in The PNC Financial Services Group by 160.9% during the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after purchasing an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in The PNC Financial Services Group by 88.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after purchasing an additional 254,356 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated 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 completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares in the company, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,030 shares of company stock valued at $5,928,202. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley lifted 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 note on Friday. Compass Point increased their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Truist Financial lifted their price target 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Up 0.9 %

NYSE:PNC opened at $198.36 on Friday. The business’s fifty day moving average price is $201.40 and its 200 day moving average price is $187.03. The firm has a market capitalization of $78.71 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its 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 company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

The PNC Financial Services Group Company 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.