The PNC Financial Services Group, Inc. (NYSE:PNC) Position Lessened by New England Asset Management Inc.

New England Asset Management Inc. trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 12.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,065 shares of the financial services provider's stock after selling 2,890 shares during the period. New England Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $4,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after buying an additional 53 shares during the last quarter. Transcend Capital Advisors LLC grew its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after buying an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock valued at $773,000 after acquiring an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in shares of The PNC Financial Services Group by 2.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 58 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the company's stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director now directly 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. Insiders sold a total of 16,396 shares of company stock valued at $2,789,603 in the last ninety days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.0%

Shares of PNC traded down $0.01 during mid-day trading on Friday, hitting $179.45. The company had a trading volume of 2,215,742 shares, compared to its average volume of 2,047,065. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The business's 50-day simple moving average is $164.67 and its 200-day simple moving average is $186.29. The stock has a market cap of $70.98 billion, a PE ratio of 13.05, a P/E/G ratio of 1.55 and a beta of 1.06. 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 announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.57%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent analyst reports. Citigroup reduced their price objective 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. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. TD Cowen initiated coverage on The PNC Financial Services Group in a report on Thursday. They issued a "buy" rating and a $233.00 target price for the company. 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 for the company in a report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their price objective on shares of 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. Two analysts have rated the stock with a sell rating, seven have assigned 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, the company has an average rating of "Moderate Buy" and a consensus target price of $202.67.

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.