Ellevest Inc. Sells 675 Shares of The PNC Financial Services Group, Inc $PNC

Ellevest Inc. reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,766 shares of the financial services provider’s stock after selling 675 shares during the quarter. Ellevest Inc.’s holdings in The PNC Financial Services Group were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PNC. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at $27,000. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at $27,000. Concord Wealth Partners raised its stake in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares during the period. Finally, WPG Advisers LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at $36,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the topic of several research reports. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. UBS Group lifted their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Bank of America boosted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Trading Up 0.7%

Shares of PNC stock opened at $184.19 on Thursday. The stock has a market capitalization of $72.53 billion, a PE ratio of 11.90, a P/E/G ratio of 1.26 and a beta of 1.10. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The business has a 50-day moving average of $194.73 and a 200 day moving average of $186.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.49 EPS. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.41% of the stock is owned by 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.