B. Riley Wealth Advisors Inc. Sells 1,026 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

B. Riley Wealth Advisors Inc. cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,384 shares of the financial services provider’s stock after selling 1,026 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after purchasing an additional 123,994 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after purchasing an additional 223,955 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PNC shares. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Barclays lifted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $200.81.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,030 shares of company stock valued at $5,873,691 in the last quarter. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $201.50 on Monday. The company has a market capitalization of $79.95 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 2.11 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $198.84 and a 200 day simple moving average of $180.33. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.60 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 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 Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 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.