Thurston Springer Miller Herd & Titak Inc. Sells 6,023 Shares of The PNC Financial Services Group, Inc $PNC

Thurston Springer Miller Herd & Titak Inc. reduced its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 94.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 356 shares of the financial services provider’s stock after selling 6,023 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in The PNC Financial Services Group were worth $72,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $27,000. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the second quarter valued at about $27,000. Concord Wealth Partners lifted its holdings in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares during the period. WPG Advisers LLC bought a new stake in The PNC Financial Services Group during the first quarter worth $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at about $37,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the 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 sale, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.2%

Shares of The PNC Financial Services Group stock opened at $210.33 on Thursday. The stock has a market capitalization of $82.48 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $189.34 and its 200 day simple moving average is $191.95. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $213.03.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 EPS. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, Evercore ISI boosted their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.06.

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.