MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 25,087 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 38.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,309 shares of the financial services provider's stock after selling 25,087 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in The PNC Financial Services Group were worth $7,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Baltimore Washington Financial Advisors Inc. boosted its position in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after buying an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 53 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock worth $616,000 after purchasing an additional 55 shares during the period. Valmark Advisers Inc. grew its stake in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock worth $773,000 after purchasing an additional 56 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its stake in shares of The PNC Financial Services Group by 2.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock worth $537,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the sale, the chief executive officer now directly owns 569,783 shares of the company's stock, valued at approximately $108,361,330.94. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,638 shares of company stock worth $3,012,095 over the last quarter. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PNC shares. Truist Financial dropped their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Citigroup reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods dropped their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley reduced their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Stock Down 0.7%

PNC traded down $1.28 during trading on Tuesday, hitting $177.36. 1,084,314 shares of the company's stock traded hands, compared to its average volume of 2,047,510. The stock has a market capitalization of $70.16 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.55 and a beta of 1.06. The company's 50 day simple moving average is $165.01 and its two-hundred day simple moving average is $186.13. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.61%. The PNC Financial Services Group's payout ratio is 45.20%.

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.