Trust Co. of Vermont Decreases Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Trust Co. of Vermont lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 18.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,240 shares of the financial services provider’s stock after selling 739 shares during the period. Trust Co. of Vermont’s holdings in The PNC Financial Services Group were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new position in The PNC Financial Services Group during the first quarter worth about $35,000. REAP Financial Group LLC raised its position in The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, Hoey Investments Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of 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. Barclays cut 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 research report on Wednesday, April 16th. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Truist Financial cut their price objective on shares of 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. Finally, Citigroup cut their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $202.67.

The PNC Financial Services Group Price Performance

PNC opened at $185.92 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a 50 day moving average of $172.14 and a two-hundred day moving average of $180.35. The company has a market cap of $73.55 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.56 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $155.27, for a total transaction of $99,528.07. Following the completion of the transaction, the chief executive officer now owns 564,174 shares of the company’s stock, valued at $87,599,296.98. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,428 shares of company stock worth $1,882,322 over the last ninety days. 0.41% of the stock is owned by company insiders.

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.