Baird Financial Group Inc. Increases Stock Holdings in The PNC Financial Services Group, Inc $PNC

Baird Financial Group Inc. boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 461,211 shares of the financial services provider’s stock after acquiring an additional 3,567 shares during the quarter. Baird Financial Group Inc. owned 0.12% of The PNC Financial Services Group worth $85,979,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $1,477,836,000. Nuveen LLC acquired a new stake in The PNC Financial Services Group in the 1st quarter worth about $306,905,000. Amundi increased its stake in The PNC Financial Services Group by 76.1% during the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock worth $352,592,000 after buying an additional 944,731 shares in the last quarter. AQR Capital Management LLC increased its stake in The PNC Financial Services Group by 187.3% during the 1st quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock worth $245,055,000 after buying an additional 926,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after acquiring an additional 830,440 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on 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 directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Citigroup upped their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. UBS Group raised their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI upped 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 research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $218.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $198.13 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $210.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The stock has a market cap of $77.70 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The business has a fifty day moving average of $187.81 and a two-hundred day moving average of $189.83.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.49 EPS. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

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.