Heartland Advisors Inc. Lowers Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Heartland Advisors Inc. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,295 shares of the financial services provider’s stock after selling 550 shares during the quarter. Heartland Advisors Inc.’s holdings in The PNC Financial Services Group were worth $4,685,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of The PNC Financial Services Group by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares during the last quarter. PKS Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $357,000. Finally, Root Financial Partners LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $346,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PNC. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley boosted their price target 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. Wells Fargo & Company dropped their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler boosted their target price on 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. Finally, Barclays raised their price target on 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $204.25.

The PNC Financial Services Group Trading Down 1.8 %

NYSE PNC opened at $171.83 on Friday. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The firm has a 50-day moving average price of $187.91 and a 200 day moving average price of $192.01. The stock has a market capitalization of $68.00 billion, a P/E ratio of 12.50, 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 (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $3.16 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity

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, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the transaction, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 12,420 shares of company stock worth $2,342,313 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

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.