Vinva Investment Management Ltd Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vinva Investment Management Ltd cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,103 shares of the financial services provider’s stock after selling 1,853 shares during the period. Vinva Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $2,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the sale, the chief executive officer now owns 528,797 shares of the company’s stock, valued at $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,604,263 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PNC shares. Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. 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 report on Tuesday, December 3rd. Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $203.71.

The PNC Financial Services Group Trading Up 0.3 %

Shares of PNC opened at $173.86 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm’s 50-day moving average is $190.77 and its two-hundred day moving average is $192.43. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The firm has a market capitalization of $68.81 billion, a P/E ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.13.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

About The PNC Financial Services Group

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.