The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Trimmed by JGP Wealth Management LLC

JGP Wealth Management LLC lowered its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,953 shares of the financial services provider's stock after selling 7,318 shares during the quarter. The PNC Financial Services Group makes up approximately 2.2% of JGP Wealth Management LLC's holdings, making the stock its 9th biggest position. JGP Wealth Management LLC's holdings in The PNC Financial Services Group were worth $16,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PNC. Mechanics Financial Corp purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $541,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $739,000. Premier Fund Managers Ltd raised its holdings in shares of The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after acquiring an additional 13,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after acquiring an additional 8,081 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after acquiring an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 16th. The Goldman Sachs Group decreased their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Barclays decreased their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $178.83, for a total transaction of $222,106.86. Following the transaction, the chief executive officer now owns 568,541 shares of the company's stock, valued at approximately $101,672,187.03. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director now directly owns 2,009 shares of the company's stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 16,396 shares of company stock valued at $2,747,698 in the last 90 days. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $2.48 on Tuesday, reaching $176.42. The company's stock had a trading volume of 1,976,199 shares, compared to its average volume of 2,058,071. The company has a market capitalization of $69.79 billion, a P/E ratio of 12.83, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The stock has a 50-day moving average price of $165.01 and a 200-day moving average price of $184.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations 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 expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

The PNC Financial Services Group Company 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.