The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,492 shares of the financial services provider's stock after selling 23,248 shares during the period. Stifel Financial Corp owned about 0.13% of The PNC Financial Services Group worth $96,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after buying an additional 22,271 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $481,000. Wealthquest Corp acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $212,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider's stock valued at $6,367,000 after acquiring an additional 15,962 shares during the period. Finally, Synovus Financial Corp boosted its holdings in shares of The PNC Financial Services Group by 3.7% in the third quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider's stock valued at $2,631,000 after acquiring an additional 509 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $1.26 during mid-day trading on Friday, reaching $158.49. The stock had a trading volume of 1,125,112 shares, compared to its average volume of 1,999,239. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $62.72 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The business has a 50-day simple moving average of $169.74 and a 200 day simple moving average of $188.32.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.45 billion for 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%. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the sale, the chief executive officer now owns 571,025 shares of the company's stock, valued at $109,893,761.25. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,420 shares of company stock valued at $2,172,655 over the last quarter. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PNC shares. The Goldman Sachs Group decreased 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 report on Wednesday, April 16th. Truist Financial decreased their price target on 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. Stephens reaffirmed an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Two research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $200.88.

About The PNC Financial Services Group

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.