Federated Hermes Inc. Has $387.17 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Federated Hermes Inc. reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 20.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,500,304 shares of the financial services provider’s stock after selling 628,848 shares during the quarter. The PNC Financial Services Group accounts for 1.0% of Federated Hermes Inc.’s holdings, making the stock its 12th biggest holding. Federated Hermes Inc. owned approximately 0.63% of The PNC Financial Services Group worth $387,172,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Steph & Co. grew its holdings in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of The PNC Financial Services Group by 33.5% during the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank lifted its position in shares of The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after buying an additional 69 shares during the last quarter. Oakworth Capital Inc. lifted its position in shares of The PNC Financial Services Group by 11.7% during the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after buying an additional 75 shares during the last quarter. Finally, Caprock Group LLC lifted its position in shares of The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 79 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.9 %

Shares of PNC traded up $1.37 during mid-day trading on Thursday, reaching $148.62. 295,400 shares of the company were exchanged, compared to its average volume of 2,130,578. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $59.12 billion, a PE ratio of 12.36, a PEG ratio of 1.69 and a beta of 1.18. The business has a 50 day simple moving average of $151.80 and a two-hundred day simple moving average of $141.68.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $3.98 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.17%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on PNC shares. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday. Bank of America upped their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Evercore ISI dropped their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group dropped their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $156.63.

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.