The PNC Financial Services Group, Inc $PNC Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,442 shares of the financial services provider’s stock after selling 3,703 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in The PNC Financial Services Group were worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. US Bancorp DE increased its stake in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after purchasing an additional 34,009 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of The PNC Financial Services Group by 3.3% during the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after buying an additional 39,589 shares during the last quarter. Teamwork Financial Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $13,711,000. Finally, Candriam S.C.A. lifted its holdings in The PNC Financial Services Group by 8.0% in the 3rd quarter. Candriam S.C.A. now owns 178,811 shares of the financial services provider’s stock worth $35,928,000 after purchasing an additional 13,321 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PNC shares. Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. Morgan Stanley boosted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Truist Financial boosted their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Barclays raised their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Citigroup raised their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.11.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $228.76 on Monday. The business’s fifty day moving average price is $218.12 and its two-hundred day moving average price is $214.61. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $91.86 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a fifty-two week low of $172.73 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.51 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

The PNC Financial Services Group Profile

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.