Siemens Fonds Invest GmbH Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Siemens Fonds Invest GmbH lowered its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 80.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,214 shares of the financial services provider's stock after selling 8,854 shares during the period. Siemens Fonds Invest GmbH's holdings in The PNC Financial Services Group were worth $427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after purchasing an additional 984 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of The PNC Financial Services Group by 2.4% during the 4th 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 purchasing an additional 53 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of The PNC Financial Services Group by 7.8% during the 4th quarter. Pacer Advisors Inc. now owns 31,762 shares of the financial services provider's stock valued at $6,125,000 after purchasing an additional 2,296 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 12.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,742 shares of the financial services provider's stock valued at $336,000 after purchasing an additional 198 shares during the last quarter. Finally, Nilsine Partners LLC grew its position in The PNC Financial Services Group by 6.7% during the 4th quarter. Nilsine Partners LLC now owns 2,358 shares of the financial services provider's stock worth $455,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the firm's stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer now owns 554,879 shares of the company's stock, valued at $94,190,710.25. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,396 shares of company stock valued at $2,747,698. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 1.0%

Shares of NYSE PNC traded up $1.72 during mid-day trading on Tuesday, hitting $175.66. 312,161 shares of the stock traded hands, compared to its average volume of 2,049,188. 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, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a market cap of $69.49 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.55 and a beta of 1.06. The stock has a fifty day moving average price of $165.01 and a 200-day moving average price of $184.08.

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 the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.64%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PNC shares. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Royal Bank of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Truist Financial cut their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Citigroup cut their price objective on 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. Finally, Keefe, Bruyette & Woods cut their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

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.