Schmidt P J Investment Management Inc. Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Schmidt P J Investment Management Inc. lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,279 shares of the financial services provider’s stock after selling 121 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $1,211,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank raised its position in shares of The PNC Financial Services Group by 6.8% during the 3rd quarter. Czech National Bank now owns 80,974 shares of the financial services provider’s stock worth $14,968,000 after purchasing an additional 5,150 shares during the last quarter. Diversified Trust Co increased its position in The PNC Financial Services Group by 14.4% during the third quarter. Diversified Trust Co now owns 4,193 shares of the financial services provider’s stock worth $775,000 after buying an additional 528 shares in the last quarter. Axiom Advisory LLC lifted its position in shares of The PNC Financial Services Group by 8.7% in the third quarter. Axiom Advisory LLC now owns 3,712 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 298 shares in the last quarter. Legacy Private Trust Co. acquired a new stake in shares of The PNC Financial Services Group during the third quarter valued at $217,000. Finally, Atomi Financial Group Inc. increased its position in The PNC Financial Services Group by 21.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,847 shares of the financial services provider’s stock worth $896,000 after purchasing an additional 848 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock worth $6,037,230 over the last quarter. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PNC has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial raised their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Compass Point boosted their price target on 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. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $198.99 on Thursday. The firm has a market cap of $78.96 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.63 and a beta of 1.16. 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 business’s 50 day moving average is $199.25 and its two-hundred day moving average is $190.14. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 EPS. Analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.22%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 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.