J.W. Cole Advisors Inc. Sells 1,910 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

J.W. Cole Advisors Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 39.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,960 shares of the financial services provider’s stock after selling 1,910 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in The PNC Financial Services Group were worth $571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted 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 during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the last quarter. Root Financial Partners LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $346,000. Finally, YANKCOM Partnership purchased a new position in The PNC Financial Services Group during the 4th quarter worth $457,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.2 %

Shares of The PNC Financial Services Group stock opened at $194.19 on Thursday. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock’s 50-day simple moving average is $196.55 and its 200 day simple moving average is $191.49. The stock has a market capitalization of $77.05 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PNC shares. Citigroup lifted 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 report on Monday, November 25th. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 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 report on Friday, January 17th. Compass Point boosted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the sale, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 13,662 shares of company stock worth $2,730,549 over the last ninety days. Company insiders own 0.42% of the company’s stock.

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.