Colton Groome Financial Advisors LLC Reduces Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Colton Groome Financial Advisors LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,943 shares of the financial services provider’s stock after selling 810 shares during the period. Colton Groome Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $218,000. Cairn Investment Group Inc. purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $206,000. OLD National Bancorp IN grew its position in The PNC Financial Services Group by 5.1% during the 4th quarter. OLD National Bancorp IN now owns 3,535 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 171 shares during the last quarter. DMC Group LLC increased its stake in The PNC Financial Services Group by 12.7% during the 4th quarter. DMC Group LLC now owns 3,398 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 382 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PNC. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Compass Point upped their target price on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler lifted their price objective on 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 research analysts have rated the stock with a sell rating, eight have assigned 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 has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now directly owns 536,249 shares in the company, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock valued at $6,021,569 in the last ninety days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.7 %

The PNC Financial Services Group stock opened at $203.62 on Thursday. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The firm has a market capitalization of $80.79 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.59 and a beta of 1.16. The firm has a 50 day moving average of $200.14 and a 200 day moving average of $189.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.14%. The PNC Financial Services Group’s payout ratio is 46.55%.

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.