The PNC Financial Services Group, Inc $PNC Shares Sold by Strs Ohio

Strs Ohio trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 132,040 shares of the financial services provider’s stock after selling 3,606 shares during the quarter. Strs Ohio’s holdings in The PNC Financial Services Group were worth $27,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. YANKCOM Partnership boosted its stake in The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 46 shares during the period. Westfuller Advisors LLC boosted its stake in The PNC Financial Services Group by 26.9% in the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 46 shares during the period. Almanack Investment Partners LLC. boosted its stake in The PNC Financial Services Group by 2.2% in the fourth quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock valued at $490,000 after acquiring an additional 50 shares during the period. North Star Investment Management Corp. boosted its stake in The PNC Financial Services Group by 1.1% in the fourth quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider’s stock valued at $999,000 after acquiring an additional 50 shares during the period. Finally, PUREfi Wealth LLC boosted its stake in The PNC Financial Services Group by 2.4% in the fourth quarter. PUREfi Wealth LLC now owns 2,305 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 53 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PNC shares. Truist Financial lifted their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Bank of America lifted their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, TD Cowen lifted their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.72.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. This represents a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,186 shares of company stock worth $14,840,973 in the last three months. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $220.92 on Friday. The business’s 50 day moving average is $213.91 and its 200-day moving average is $208.44. The stock has a market cap of $89.11 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.00. The PNC Financial Services Group, Inc has a twelve month low of $163.11 and a twelve month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company earned $3.51 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.