The PNC Financial Services Group, Inc (NYSE:PNC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,841 shares of the financial services provider's stock after selling 5,396 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in The PNC Financial Services Group were worth $4,542,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Brighton Jones LLC raised its stake in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after acquiring an additional 984 shares during the period. Bryn Mawr Capital Management LLC raised its stake in The PNC Financial Services Group by 4.5% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 2,243 shares of the financial services provider's stock worth $423,000 after acquiring an additional 96 shares during the period. Concurrent Investment Advisors LLC raised its stake in The PNC Financial Services Group by 2.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 6,571 shares of the financial services provider's stock worth $1,267,000 after acquiring an additional 158 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in shares of The PNC Financial Services Group by 16.4% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 11,694 shares of the financial services provider's stock valued at $2,255,000 after purchasing an additional 1,645 shares during the period. Finally, Transcend Capital Advisors LLC increased its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PNC shares. Barclays dropped their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Keefe, Bruyette & Woods dropped 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 research note on Wednesday, April 16th. Truist Financial dropped their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $202.67.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This 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 this link. Also, CEO William S. Demchak sold 641 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $150.50, for a total value of $96,470.50. Following the transaction, the chief executive officer now directly owns 562,291 shares in the company, valued at $84,624,795.50. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock worth $2,099,398 in the last three months. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Up 1.3%

The PNC Financial Services Group stock opened at $177.61 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm's 50 day moving average price is $169.10 and its two-hundred day moving average price is $180.97. The firm has a market cap of $70.26 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

About The PNC Financial Services Group

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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