The PNC Financial Services Group, Inc $PNC Shares Bought by Cullen Capital Management LLC

Cullen Capital Management LLC lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 204,875 shares of the financial services provider’s stock after buying an additional 7,478 shares during the period. Cullen Capital Management LLC owned approximately 0.05% of The PNC Financial Services Group worth $38,193,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $27,000. Concord Wealth Partners raised its stake in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $37,000. Finally, WPG Advisers LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were 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 in the company, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PNC. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Citigroup lifted their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Truist Financial increased their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $217.17.

The PNC Financial Services Group Trading Down 0.4%

Shares of PNC opened at $210.61 on Monday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $213.03. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $82.59 billion, a P/E ratio of 13.61, a PEG ratio of 1.18 and a beta of 1.01. The firm’s 50-day moving average is $188.31 and its two-hundred day moving average is $191.32.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $3.49 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced 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. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

About The PNC Financial Services Group

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.