The PNC Financial Services Group, Inc $PNC Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 12.2% in the fourth quarter, Holdings Channel reports. The firm owned 22,579 shares of the financial services provider’s stock after selling 3,147 shares during the period. 180 Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $4,713,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at about $1,477,836,000. Viking Global Investors LP boosted its holdings in The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares in the last quarter. AQR Capital Management LLC boosted its holdings in The PNC Financial Services Group by 134.9% in the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after acquiring an additional 1,917,530 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of The PNC Financial Services Group by 50.1% during the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock worth $700,305,000 after acquiring an additional 1,162,964 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of The PNC Financial Services Group by 43.8% during the second quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after acquiring an additional 845,148 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $201.71 on Monday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The company has a market cap of $81.37 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.98. The company’s 50 day moving average is $220.00 and its 200 day moving average is $205.12.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.77 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Oppenheimer lifted their target price on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. boosted their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Royal Bank Of Canada upped their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Barclays raised their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, 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 sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. This represents a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 in the last three months. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group 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.