17 Capital Partners LLC Has $1.14 Million Holdings in The PNC Financial Services Group, Inc $PNC

17 Capital Partners LLC trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,102 shares of the financial services provider’s stock after selling 803 shares during the period. 17 Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $1,138,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Avior Wealth Management LLC lifted its holdings in The PNC Financial Services Group by 4.5% during the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after buying an additional 52 shares in the last quarter. Rockland Trust Co. lifted its stake in shares of The PNC Financial Services Group by 0.5% during the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 53 shares during the period. Almanack Investment Partners LLC. lifted its stake in shares of The PNC Financial Services Group by 2.3% during the second quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 55 shares during the period. Winthrop Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 2.1% during the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 55 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in The PNC Financial Services Group by 15.0% in the second quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 56 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,151 shares of company stock worth $400,092 in the last quarter. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 1.7%

PNC opened at $183.17 on Thursday. The firm’s fifty day moving average is $190.42 and its two-hundred day moving average is $188.42. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $71.83 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

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 (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $3.49 EPS. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Analyst Ratings Changes

A number of research analysts have issued reports on PNC shares. 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 research report on Thursday, October 9th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. UBS Group upped their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Oppenheimer reduced their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.