The PNC Financial Services Group, Inc $PNC Shares Sold by Capital Research Global Investors

Capital Research Global Investors trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,629,597 shares of the financial services provider’s stock after selling 137,609 shares during the period. Capital Research Global Investors owned 0.67% of The PNC Financial Services Group worth $548,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Capital International Inc. CA increased its position in shares of The PNC Financial Services Group by 38.4% in the 4th quarter. Capital International Inc. CA now owns 43,914 shares of the financial services provider’s stock valued at $9,166,000 after acquiring an additional 12,173 shares during the period. Capital International Investors increased its position in shares of The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after acquiring an additional 1,101,055 shares during the period. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $29,000. Comprehensive Financial Planning Inc. PA increased its position in shares of The PNC Financial Services Group by 72.3% in the 4th quarter. Comprehensive Financial Planning Inc. PA now owns 941 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 395 shares during the period. Finally, Cookson Peirce & Co. Inc. increased its position in shares of The PNC Financial Services Group by 10.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,273 shares of the financial services provider’s stock valued at $892,000 after acquiring an additional 417 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. upped their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $243.11.

Insiders Place Their Bets

In related news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Up 0.2%

Shares of PNC opened at $228.76 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12 month low of $172.73 and a 12 month high of $243.94. The stock’s 50 day moving average is $218.12 and its two-hundred day moving average is $214.61. The firm has a market cap of $91.86 billion, a P/E ratio of 13.29, a PEG ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating 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 company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company earned $3.51 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

About The PNC Financial Services Group

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.