The PNC Financial Services Group, Inc $PNC Shares Acquired by Janney Capital Management LLC

Janney Capital Management LLC boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 236.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,441 shares of the financial services provider’s stock after purchasing an additional 11,555 shares during the quarter. Janney Capital Management LLC’s holdings in The PNC Financial Services Group were worth $3,303,000 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 PNC. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group during the second quarter worth about $27,000. Concord Wealth Partners increased its stake 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 purchasing an additional 100 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $37,000. Bayforest Capital Ltd grew its holdings in The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after buying an additional 147 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in shares of The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.8%

PNC opened at $215.79 on Tuesday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $220.54. The firm has a 50 day moving average price of $200.11 and a 200 day moving average price of $196.59. The company has a market cap of $84.63 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.49 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $211.00 to $220.00 in a report on Thursday, October 9th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. TD Cowen boosted their price target on The PNC Financial Services Group from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. UBS Group raised their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial increased their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.06.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were 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 directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.