Wrapmanager Inc. Sells 722 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Wrapmanager Inc. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,840 shares of the financial services provider’s stock after selling 722 shares during the quarter. Wrapmanager Inc.’s holdings in The PNC Financial Services Group were worth $741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dakota Wealth Management boosted its position in shares of The PNC Financial Services Group by 5.5% during the 3rd quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock valued at $774,000 after acquiring an additional 218 shares during the last quarter. Allworth Financial LP raised its stake in The PNC Financial Services Group by 41.5% in the third quarter. Allworth Financial LP now owns 14,183 shares of the financial services provider’s stock valued at $2,622,000 after purchasing an additional 4,162 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in The PNC Financial Services Group by 19.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,993 shares of the financial services provider’s stock valued at $5,857,000 after purchasing an additional 5,223 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of The PNC Financial Services Group by 194.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 6,418 shares of the financial services provider’s stock worth $1,186,000 after buying an additional 4,242 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in shares of The PNC Financial Services Group by 5.2% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,943 shares of the financial services provider’s stock valued at $729,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares of the company’s stock, valued at $111,425,112.52. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 13,662 shares of company stock valued at $2,713,745. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 0.7 %

Shares of NYSE PNC opened at $186.68 on Tuesday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $195.80 and a 200 day moving average of $192.09. The stock has a market cap of $74.07 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PNC shares. The Goldman Sachs Group upped their price objective on 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. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial lifted their price target on 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. Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $205.00.

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.