The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,557 shares of the financial services provider's stock after selling 16,467 shares during the period. Schonfeld Strategic Advisors LLC's holdings in The PNC Financial Services Group were worth $1,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $163.87 on Thursday. The company's fifty day moving average price is $165.47 and its two-hundred day moving average price is $186.85. 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 firm has a market capitalization of $64.85 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $163.16, for a total value of $202,644.72. Following the completion of the sale, the chief executive officer now directly owns 558,605 shares of the company's stock, valued at $91,141,991.80. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director now owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 13,662 shares of company stock valued at $2,322,006. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNC shares. Keefe, Bruyette & Woods decreased their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research note on Wednesday, April 16th. Barclays lowered their target price on shares of 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. JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Truist Financial reduced their target price 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $200.88.

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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