Pathstone Holdings LLC Has $13.55 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pathstone Holdings LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,276 shares of the financial services provider's stock after purchasing an additional 2,151 shares during the quarter. Pathstone Holdings LLC's holdings in The PNC Financial Services Group were worth $13,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mechanics Financial Corp purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $739,000. Premier Fund Managers Ltd increased its holdings in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after buying an additional 13,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock valued at $30,202,000 after purchasing an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the subject of several research reports. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Truist Financial reduced their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley reduced their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two investment 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the sale, the chief executive officer now owns 556,121 shares in the company, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of the business's stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the purchase, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 17,638 shares of company stock worth $3,012,095. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $0.85 during midday trading on Monday, reaching $178.57. The company's stock had a trading volume of 1,466,067 shares, compared to its average volume of 2,048,884. 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 company has a market capitalization of $70.64 billion, a P/E ratio of 12.99, a P/E/G 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's fifty day simple moving average is $164.86 and its 200-day simple moving average is $186.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data 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 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 for the quarter, compared to analysts' expectations of $5.50 billion. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.58%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 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.