Canvas Wealth Advisors LLC Has $219,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Canvas Wealth Advisors LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,134 shares of the financial services provider’s stock after selling 1,183 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $219,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PNC. Angeles Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $216,000. 17 Capital Partners LLC increased its stake in shares of The PNC Financial Services Group by 1.9% in the 4th quarter. 17 Capital Partners LLC now owns 6,880 shares of the financial services provider’s stock valued at $1,327,000 after acquiring an additional 125 shares in the last quarter. Richard C. Young & CO. LTD. increased its stake in shares of The PNC Financial Services Group by 36.5% in the 4th quarter. Richard C. Young & CO. LTD. now owns 83,258 shares of the financial services provider’s stock valued at $16,056,000 after acquiring an additional 22,271 shares in the last quarter. Investment Advisory Services Inc. TX ADV bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $210,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $1,063,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.7 %

Shares of The PNC Financial Services Group stock opened at $197.25 on Tuesday. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock’s 50-day simple moving average is $198.40 and its 200 day simple moving average is $190.62. The stock has a market capitalization of $78.26 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.24%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group lifted 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 research report on Friday, December 6th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $205.00.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the sale, the chief executive officer now owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 14,904 shares of company stock valued at $2,989,034 over the last quarter. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group 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.