Mariner LLC Has $215.44 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Mariner LLC lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,072,139 shares of the financial services provider’s stock after selling 27,294 shares during the period. Mariner LLC owned about 0.27% of The PNC Financial Services Group worth $215,435,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PNC. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $1,477,836,000. Viking Global Investors LP raised its position in The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after buying an additional 5,581,102 shares during the last quarter. AQR Capital Management LLC raised its position in The PNC Financial Services Group by 134.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after buying an additional 1,917,530 shares during the last quarter. Wellington Management Group LLP lifted its stake in The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after acquiring an additional 1,162,964 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in The PNC Financial Services Group by 43.8% during the 2nd quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock valued at $517,598,000 after acquiring an additional 845,148 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.3%

NYSE:PNC opened at $200.55 on Tuesday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The stock’s fifty day moving average price is $221.24 and its two-hundred day moving average price is $205.24. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $80.89 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.84 and a beta of 0.98.

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

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Insider Buying and Selling

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,186 shares of company stock valued at $14,840,973. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Oppenheimer raised their price target on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Royal Bank Of Canada increased their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Truist Financial lifted 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 research report on Thursday, December 18th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group 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.