Evanson Asset Management LLC Has $238,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Evanson Asset Management LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,534 shares of the financial services provider’s stock after selling 766 shares during the quarter. Evanson Asset Management LLC’s holdings in The PNC Financial Services Group were worth $238,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $28,000. DHJJ Financial Advisors Ltd. acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at $29,000. Finally, Tyler Stone Wealth Management acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock traded up $1.66 during trading on Thursday, hitting $161.63. 1,725,297 shares of the stock traded hands, compared to its average volume of 2,237,252. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The stock has a market cap of $64.30 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.79 and a beta of 1.17. The company has a 50 day simple moving average of $149.96 and a 200 day simple moving average of $138.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $3.49 EPS. Equities analysts expect that The PNC Financial Services Group, Inc. will post 12.4 EPS 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, February 5th. Shareholders of record on Tuesday, January 16th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s payout ratio is presently 48.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research note on Wednesday, January 3rd. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, December 8th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $152.87.

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.