USS Investment Management Ltd Reduces Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

USS Investment Management Ltd reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,260 shares of the financial services provider's stock after selling 11,157 shares during the quarter. USS Investment Management Ltd's holdings in The PNC Financial Services Group were worth $19,930,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PNC. Ameritas Advisory Services LLC grew its stake in shares of The PNC Financial Services Group by 73.7% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,889 shares of the financial services provider's stock worth $750,000 after purchasing an additional 1,650 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 14.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,598 shares of the financial services provider's stock worth $308,000 after buying an additional 202 shares during the period. City Holding Co. grew its position in shares of The PNC Financial Services Group by 6.6% in the 4th quarter. City Holding Co. now owns 2,132 shares of the financial services provider's stock worth $411,000 after buying an additional 132 shares during the last quarter. UMB Bank n.a. increased its stake in shares of The PNC Financial Services Group by 0.5% during the fourth quarter. UMB Bank n.a. now owns 14,804 shares of the financial services provider's stock valued at $2,855,000 after buying an additional 76 shares during the period. Finally, Amplius Wealth Advisors LLC increased its stake in shares of The PNC Financial Services Group by 10.0% during the fourth quarter. Amplius Wealth Advisors LLC now owns 1,325 shares of the financial services provider's stock valued at $256,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were acquired 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 owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 16,396 shares of company stock valued at $2,773,072. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on PNC. Truist Financial cut 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 report on Wednesday, April 16th. Citigroup dropped their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Barclays reduced 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 report on Wednesday, April 16th. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Morgan Stanley cut their price objective on 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 analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Stock Down 0.6%

NYSE:PNC traded down $1.12 during trading hours on Monday, reaching $171.87. 1,641,637 shares of the company traded hands, compared to its average volume of 2,054,681. 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 business's 50-day moving average price is $165.13 and its two-hundred day moving average price is $185.51. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market capitalization of $67.99 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm 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 year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. The PNC Financial Services Group's dividend payout ratio is currently 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.