Toronto Dominion Bank Sells 251,945 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Toronto Dominion Bank lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 56.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,810 shares of the financial services provider's stock after selling 251,945 shares during the period. Toronto Dominion Bank's holdings in The PNC Financial Services Group were worth $37,762,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $299,864,000. Schroder Investment Management Group grew its position in shares of The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after buying an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after buying an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after acquiring an additional 710,311 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group 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 completion of the sale, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the transaction, the chief executive officer now directly owns 568,541 shares in the company, valued at $101,672,187.03. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,396 shares of company stock valued at $2,747,698 over the last ninety days. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Barclays lowered their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company decreased their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Truist Financial lowered their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Stock Down 0.7%

PNC stock traded down $1.24 during trading on Friday, hitting $173.86. 3,822,295 shares of the stock traded hands, compared to its average volume of 2,061,832. The stock has a market cap of $68.77 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. 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 is $165.13 and its two-hundred day moving average is $184.90.

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

The PNC Financial Services Group Announces Dividend

The firm also recently declared 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 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.