194,700 Shares in The PNC Financial Services Group, Inc $PNC Bought by Trillium Asset Management LLC

Trillium Asset Management LLC acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 194,700 shares of the financial services provider’s stock, valued at approximately $47,940,000. The PNC Financial Services Group makes up 1.5% of Trillium Asset Management LLC’s portfolio, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNC. Vanguard Group Inc. grew its position in The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after buying an additional 408,464 shares during the period. BlackRock Inc. purchased a new position in The PNC Financial Services Group in the second quarter valued at about $7,921,455,000. State Street Corp lifted its position in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock valued at $3,615,085,000 after acquiring an additional 77,302 shares during the period. Capital International Investors lifted its position in shares of The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after acquiring an additional 1,101,055 shares during the period. Finally, Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,967,080,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,654 shares of company stock valued at $11,552,661 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research analyst reports. Morgan Stanley raised their price objective on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Argus lifted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Truist Financial raised their target price on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the company a “hold” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.73.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $242.26 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $258.96. The stock has a market cap of $96.65 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. The business has a fifty day moving average of $248.17 and a 200-day moving average of $229.25. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a $2.00 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The PNC Financial Services Group’s payout ratio is currently 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.