Truist Financial Corp Has $170.30 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Truist Financial Corp cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,099,780 shares of the financial services provider's stock after selling 9,885 shares during the period. Truist Financial Corp owned about 0.28% of The PNC Financial Services Group worth $170,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group during the third quarter worth about $25,000. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC stock traded down $0.19 during mid-day trading on Friday, reaching $156.11. The stock had a trading volume of 979,207 shares, compared to its average volume of 2,112,624. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $62.10 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The stock's 50-day moving average price is $152.76 and its two-hundred day moving average price is $143.22.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. The firm's revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The PNC Financial Services Group's dividend payout ratio (DPR) is 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company's stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on PNC shares. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Evercore ISI lowered their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a "neutral" rating in a report on Monday, April 1st. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Finally, UBS Group boosted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a "neutral" rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus target price of $156.63.

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.

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