Avior Wealth Management LLC trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 16.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,161 shares of the financial services provider’s stock after selling 228 shares during the quarter. Avior Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $204,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of PNC. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Whipplewood Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $33,000. REAP Financial Group LLC increased its position in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $39,000. Finally, True Wealth Design LLC increased its position in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 59 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Trading Up 1.9%
NYSE PNC opened at $180.83 on Tuesday. 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 company has a market capitalization of $71.53 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The company’s fifty day moving average price is $169.62 and its two-hundred day moving average price is $180.58.
The PNC Financial Services Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.54%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.
Insider Buying and Selling at The PNC Financial Services Group
In other news, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $179.14, for a total transaction of $222,491.88. Following the completion of the transaction, the chief executive officer now owns 556,121 shares in the company, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock worth $2,099,398 in the last ninety days. 0.41% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on PNC. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Barclays dropped 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 research report on Wednesday, April 16th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.67.
Get Our Latest Analysis on The PNC Financial Services Group
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.
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