Worldquant Millennium Advisors LLC Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Worldquant Millennium Advisors LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,457 shares of the financial services provider's stock after selling 2,709 shares during the period. Worldquant Millennium Advisors LLC's holdings in The PNC Financial Services Group were worth $1,824,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PNC. Ameritas Advisory Services LLC lifted its stake in shares of The PNC Financial Services Group by 73.7% in the 4th quarter. Ameritas Advisory Services LLC now owns 3,889 shares of the financial services provider's stock valued at $750,000 after purchasing an additional 1,650 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of The PNC Financial Services Group by 10.4% in the 4th quarter. Atomi Financial Group Inc. now owns 5,352 shares of the financial services provider's stock valued at $1,032,000 after buying an additional 505 shares during the period. Simon Quick Advisors LLC raised its position in The PNC Financial Services Group by 10.4% in the 4th quarter. Simon Quick Advisors LLC now owns 1,421 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 134 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $30,000. Finally, Magnus Financial Group LLC raised its position in The PNC Financial Services Group by 44.2% in the 4th quarter. Magnus Financial Group LLC now owns 3,381 shares of the financial services provider's stock valued at $652,000 after purchasing an additional 1,036 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Monday, April 21st. The stock was 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 of the company's stock, 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, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,638 shares of company stock worth $2,983,901. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNC shares. TD Cowen started coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target on the stock. Wells Fargo & Company reduced 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 research report on Friday, March 28th. Truist Financial dropped 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 report on Wednesday, April 16th. Citigroup dropped 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 report on Monday, March 24th. Finally, Keefe, Bruyette & Woods dropped 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $1.72 during trading on Wednesday, hitting $174.52. The stock had a trading volume of 375,512 shares, compared to its average volume of 2,046,908. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market cap of $69.04 billion, a P/E ratio of 12.70, a PEG 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 business has a fifty day moving average of $165.14 and a two-hundred day moving average of $185.22.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.50 billion. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 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.