PNC Financial Services Group Inc. Has $304.40 Million Holdings in The PNC Financial Services Group, Inc $PNC

PNC Financial Services Group Inc. decreased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,462,814 shares of the financial services provider’s stock after selling 7,108 shares during the period. PNC Financial Services Group Inc.’s holdings in The PNC Financial Services Group were worth $304,397,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PNC. Cvfg LLC boosted its position in The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 43 shares during the period. YANKCOM Partnership grew its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC raised its position in shares of The PNC Financial Services Group by 26.9% in the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 46 shares during the period. Baron Wealth Management LLC raised its position in shares of The PNC Financial Services Group by 3.0% in the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 46 shares during the period. Finally, Atom Investors LP lifted its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after buying an additional 46 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PNC. Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. UBS Group boosted their target price on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target for the company. Finally, Truist Financial raised their price target on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.50.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,300 shares of company stock valued at $10,694,574 over the last ninety days. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.1%

The PNC Financial Services Group stock opened at $250.37 on Wednesday. The business has a 50 day moving average price of $234.58 and a two-hundred day moving average price of $224.11. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.29. The stock has a market cap of $100.54 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $256.49.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the company earned $3.85 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 19.14 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.2%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

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.