Yousif Capital Management LLC Sells 2,856 Shares of The PNC Financial Services Group, Inc $PNC

Yousif Capital Management LLC reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,598 shares of the financial services provider’s stock after selling 2,856 shares during the period. Yousif Capital Management LLC’s holdings in The PNC Financial Services Group were worth $10,738,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Quarry LP bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. Westfuller Advisors LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $34,000. Beacon Financial Strategies CORP bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $35,000. JPL Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $39,000. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PNC has been the subject of several recent analyst reports. Barclays upped their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Morgan Stanley reduced their target price on The PNC Financial Services Group from $283.00 to $263.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $251.00 to $237.50 and set an “overweight” rating for the company in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Finally, Truist Financial upped their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.53.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares in the company, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares in the company, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 in the last ninety days. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $220.53 on Thursday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The business’s 50 day simple moving average is $217.16 and its 200 day simple moving average is $205.59. The company has a market cap of $88.96 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.95 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter in the prior year, the business earned $3.77 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.