Horizon Investments LLC Sells 10,707 Shares of The PNC Financial Services Group, Inc $PNC

Horizon Investments LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 31.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,879 shares of the financial services provider's stock after selling 10,707 shares during the period. Horizon Investments LLC's holdings in The PNC Financial Services Group were worth $4,739,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in The PNC Financial Services Group by 12.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider's stock valued at $11,621,000 after acquiring an additional 6,572 shares during the last quarter. US Bancorp DE boosted its holdings in The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock valued at $57,714,000 after acquiring an additional 34,009 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in The PNC Financial Services Group by 1.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider's stock valued at $369,169,000 after acquiring an additional 22,325 shares during the last quarter. National Pension Service boosted its holdings in The PNC Financial Services Group by 2.5% in the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider's stock valued at $215,113,000 after acquiring an additional 26,305 shares during the last quarter. Finally, Savant Capital LLC boosted its holdings in The PNC Financial Services Group by 8.7% in the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider's stock valued at $17,672,000 after acquiring an additional 7,064 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. Truist Financial raised their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a "hold" rating in a report on Thursday, April 16th. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a "buy" rating and a $250.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a report on Thursday, April 16th. Finally, Oppenheimer raised their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.72.

The PNC Financial Services Group Trading Up 0.1%

NYSE:PNC opened at $220.92 on Monday. The PNC Financial Services Group, Inc has a 1-year low of $163.11 and a 1-year high of $243.94. The business's 50-day moving average price is $213.91 and its two-hundred day moving average price is $208.57. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $89.11 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.92 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the firm posted $3.51 earnings per share. The company's quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group's dividend payout ratio is presently 39.51%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares of the company's stock, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. The trade was a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 64,186 shares of company stock worth $14,840,973. Corporate insiders own 0.38% of the company's stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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