Johnson Financial Group Inc. Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Johnson Financial Group Inc. decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 50.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 300 shares of the financial services provider’s stock after selling 310 shares during the quarter. Johnson Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $61,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. lifted its stake in shares of The PNC Financial Services Group by 3.1% during 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 buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of The PNC Financial Services Group by 2.4% during 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 in the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 1.8% during 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 in the last quarter. Valmark Advisers Inc. lifted its stake in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after buying an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its holdings in The PNC Financial Services Group by 2.1% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the transaction, the chief executive officer now directly owns 571,025 shares in the company, valued at approximately $109,893,761.25. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 13,061 shares of company stock valued at $2,274,222 over the last ninety days. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PNC. The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced 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 report on Thursday, April 3rd. Truist Financial reduced their price target on shares of 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. Royal Bank of Canada reduced their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley reduced their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $200.88.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $159.80 on Tuesday. 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 company has a market capitalization of $63.24 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.55 and a beta of 1.04. The company’s 50-day simple moving average is $169.06 and its two-hundred day simple moving average is $188.12. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.01%. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

The PNC Financial Services Group 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.