Brown Advisory Inc. Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brown Advisory Inc. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,137 shares of the financial services provider's stock after selling 6,518 shares during the quarter. Brown Advisory Inc.'s holdings in The PNC Financial Services Group were worth $16,226,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $32,000. Finally, Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $190.18, for a total transaction of $236,203.56. Following the completion of the transaction, the chief executive officer now directly owns 569,783 shares in the company, valued at $108,361,330.94. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,662 shares of company stock valued at $2,322,006 over the last ninety days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $163.75 on Wednesday. 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 company's fifty day moving average price is $166.03 and its 200 day moving average price is $187.01. The stock has a market capitalization of $64.80 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.91%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Analyst Ratings Changes

Several research firms recently issued reports on PNC. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Truist Financial reduced their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Finally, HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price objective for the company from $206.00 to $202.00 in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Hold" and an average target price of $200.88.

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.

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