Atria Wealth Solutions Inc. Trims Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Atria Wealth Solutions Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,522 shares of the financial services provider's stock after selling 2,416 shares during the period. Atria Wealth Solutions Inc.'s holdings in The PNC Financial Services Group were worth $4,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its holdings in shares of The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares during the last quarter. Northern Trust Corp raised its holdings in shares of The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after purchasing an additional 608,375 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of The PNC Financial Services Group by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock worth $713,063,000 after purchasing an additional 186,249 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after purchasing an additional 179,760 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The PNC Financial Services Group by 10.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,273,376 shares of the financial services provider's stock worth $631,271,000 after purchasing an additional 322,982 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Bank of America lifted their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Finally, Royal Bank Of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $214.17.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president directly owned 20,490 shares of the company's stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at $94,190,710.25. 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 5,218 shares of company stock worth $900,918 over the last ninety days. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $188.74 on Thursday. The firm has a market capitalization of $74.33 billion, a PE ratio of 12.91, a PEG ratio of 1.41 and a beta of 1.09. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The firm's 50-day moving average price is $186.81 and its 200 day moving average price is $180.11. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the business posted $3.39 earnings per share. The PNC Financial Services Group's quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is presently 46.51%.

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.

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