Riverwater Partners LLC Sells 109 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Riverwater Partners LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,316 shares of the financial services provider’s stock after selling 109 shares during the period. Riverwater Partners LLC’s holdings in The PNC Financial Services Group were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares during the period. IHT Wealth Management LLC raised its stake in The PNC Financial Services Group by 39.8% in the third quarter. IHT Wealth Management LLC now owns 4,511 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 1,284 shares in the last quarter. Morse Asset Management Inc bought a new stake in The PNC Financial Services Group during the third quarter worth about $481,000. Royal London Asset Management Ltd. grew its stake in The PNC Financial Services Group by 2.1% during the third quarter. Royal London Asset Management Ltd. now owns 354,252 shares of the financial services provider’s stock worth $65,483,000 after buying an additional 7,349 shares in the last quarter. Finally, Quarry LP increased its holdings in The PNC Financial Services Group by 43.8% in the 3rd quarter. Quarry LP now owns 417 shares of the financial services provider’s stock valued at $77,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares in the company, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 12,420 shares of company stock worth $2,320,739 over the last ninety days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PNC shares. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Citigroup cut their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Truist Financial decreased their price target on The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their target price for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $205.18.

The PNC Financial Services Group Trading Down 5.2 %

Shares of NYSE PNC opened at $152.85 on Friday. The firm has a 50 day moving average price of $184.93 and a two-hundred day moving average price of $191.66. The stock has a market cap of $60.49 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. 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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 earnings per share. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 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.