First Manhattan CO. LLC. Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

First Manhattan CO. LLC. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,814 shares of the financial services provider's stock after selling 3,674 shares during the period. First Manhattan CO. LLC.'s holdings in The PNC Financial Services Group were worth $10,378,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in The PNC Financial Services Group by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,780,186 shares of the financial services provider's stock worth $343,309,000 after purchasing an additional 42,540 shares during the period. Colonial Trust Co SC raised its position in shares of The PNC Financial Services Group by 10.1% during the 4th quarter. Colonial Trust Co SC now owns 4,032 shares of the financial services provider's stock valued at $778,000 after buying an additional 371 shares during the period. Crestline Management LP lifted its holdings in The PNC Financial Services Group by 390.8% in the fourth quarter. Crestline Management LP now owns 22,283 shares of the financial services provider's stock valued at $4,297,000 after acquiring an additional 17,743 shares during the last quarter. Cetera Investment Advisers increased its stake in The PNC Financial Services Group by 7.4% during the fourth quarter. Cetera Investment Advisers now owns 131,123 shares of the financial services provider's stock worth $25,287,000 after acquiring an additional 9,068 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in The PNC Financial Services Group by 2.0% in the fourth quarter. Captrust Financial Advisors now owns 85,341 shares of the financial services provider's stock valued at $16,458,000 after purchasing an additional 1,692 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Martin Pfinsgraff bought 1,000 shares of the firm's 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 completion of the transaction, the director now owns 2,009 shares in the company, valued at $317,863.98. This trade represents a 99.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the transaction, the chief executive officer now owns 571,025 shares of the company's stock, valued at approximately $109,893,761.25. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,662 shares of company stock worth $2,322,006 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. 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 research note on Wednesday, April 16th. Barclays lowered their target price on 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. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Stephens reiterated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Stock Down 0.2 %

Shares of The PNC Financial Services Group stock opened at $166.44 on Friday. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The company has a market cap of $65.84 billion, a P/E ratio of 12.10, a PEG ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day moving average of $164.74 and a two-hundred day moving average of $186.58.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 company 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 11.12% and a net margin of 17.10%. On average, analysts forecast 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 business 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. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.85%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

The PNC Financial Services Group 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.

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