ProVise Management Group LLC Sells 81 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

ProVise Management Group LLC lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,256 shares of the financial services provider’s stock after selling 81 shares during the period. ProVise Management Group LLC’s holdings in The PNC Financial Services Group were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PNC. Principal Financial Group Inc. raised its position in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Thrivent Financial for Lutherans raised its position in The PNC Financial Services Group by 12.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock worth $6,857,000 after purchasing an additional 4,186 shares during the last quarter. Pathstone Holdings LLC raised its position in The PNC Financial Services Group by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider’s stock worth $12,593,000 after purchasing an additional 1,471 shares during the last quarter. Caprock Group LLC raised its position in The PNC Financial Services Group by 1.1% in the 3rd quarter. Caprock Group LLC now owns 19,809 shares of the financial services provider’s stock worth $3,662,000 after purchasing an additional 219 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $6,541,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the transaction, the chief executive officer now directly owns 567,299 shares in the company, valued at $97,093,223.85. This represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 13,662 shares of company stock valued at $2,604,263. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Piper Sandler upped their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Barclays upped their target price 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 issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Price Performance

PNC opened at $173.86 on Thursday. The stock has a market cap of $68.81 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a fifty day simple moving average of $190.77 and a 200 day simple moving average of $192.43.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 EPS. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

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.