Thrive Wealth Management LLC Sells 665 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Thrive Wealth Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,751 shares of the financial services provider’s stock after selling 665 shares during the quarter. Thrive Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV raised its holdings in The PNC Financial Services Group by 9.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after purchasing an additional 2,670 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of The PNC Financial Services Group during the second quarter worth approximately $512,000. Intech Investment Management LLC lifted its holdings in The PNC Financial Services Group by 65.9% in the second quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock valued at $467,000 after buying an additional 1,193 shares during the period. Ieq Capital LLC boosted its stake in The PNC Financial Services Group by 22.0% in the second quarter. Ieq Capital LLC now owns 14,976 shares of the financial services provider’s stock valued at $2,328,000 after acquiring an additional 2,697 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of The PNC Financial Services Group by 16.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 334,744 shares of the financial services provider’s stock valued at $52,046,000 after acquiring an additional 47,618 shares during the last quarter. 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, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,030 shares of company stock worth $5,928,202 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PNC shares. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point increased their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday. Finally, Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $198.36 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $78.71 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The stock’s fifty day moving average price is $201.40 and its two-hundred day moving average price is $187.23. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.