Diversified Trust Co Sells 627 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Diversified Trust Co lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,566 shares of the financial services provider’s stock after selling 627 shares during the period. Diversified Trust Co’s holdings in The PNC Financial Services Group were worth $688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PNC. Valley Wealth Managers Inc. increased its position in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the period. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group during the second quarter worth about $33,000. Capital Performance Advisors LLP bought a new position in The PNC Financial Services Group during the third quarter worth about $51,000. Quarry LP boosted its holdings in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in shares of The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 220 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Stephens raised their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two investment 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC stock opened at $194.51 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock’s fifty day simple moving average is $201.43 and its 200 day simple moving average is $185.29. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $77.18 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $3.60 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.29%. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,030 shares of company stock worth $5,925,333 over the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.