Orion Porfolio Solutions LLC Sells 3,830 Shares of The PNC Financial Services Group, Inc $PNC

Orion Porfolio Solutions LLC decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.8% during the 3rd quarter, Holdings Channel reports. The fund owned 52,621 shares of the financial services provider’s stock after selling 3,830 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in The PNC Financial Services Group were worth $10,573,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PNC. Advisory Alpha LLC raised its holdings in The PNC Financial Services Group by 23.1% in the third quarter. Advisory Alpha LLC now owns 2,215 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 415 shares during the period. IFG Advisory LLC increased its position in shares of The PNC Financial Services Group by 42.3% in the 3rd quarter. IFG Advisory LLC now owns 7,087 shares of the financial services provider’s stock valued at $1,424,000 after buying an additional 2,106 shares in the last quarter. Insigneo Advisory Services LLC raised its stake in The PNC Financial Services Group by 2.5% during the 3rd quarter. Insigneo Advisory Services LLC now owns 2,419 shares of the financial services provider’s stock worth $486,000 after buying an additional 59 shares during the period. Cresset Asset Management LLC raised its stake in The PNC Financial Services Group by 7.5% during the 3rd quarter. Cresset Asset Management LLC now owns 41,899 shares of the financial services provider’s stock worth $8,419,000 after buying an additional 2,914 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in The PNC Financial Services Group by 13.8% during the third quarter. Victory Capital Management Inc. now owns 952,404 shares of the financial services provider’s stock worth $191,367,000 after acquiring an additional 115,751 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.7%

NYSE:PNC opened at $212.32 on Friday. The company has a market cap of $85.64 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 0.89 and a beta of 0.98. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The business has a 50 day moving average price of $222.32 and a two-hundred day moving average price of $204.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.77 earnings per share. As a group, analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid 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 was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This represents a 18.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,186 shares of company stock worth $14,840,973 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNC. Barclays increased their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Truist Financial raised their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Finally, TD Cowen increased their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Company Profile

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.