Brian Low Financial Group LLC Increases Stake in The PNC Financial Services Group, Inc $PNC

Brian Low Financial Group LLC raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 63.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,421 shares of the financial services provider’s stock after purchasing an additional 2,491 shares during the quarter. The PNC Financial Services Group accounts for 1.0% of Brian Low Financial Group LLC’s portfolio, making the stock its 23rd biggest position. Brian Low Financial Group LLC’s holdings in The PNC Financial Services Group were worth $1,290,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in The PNC Financial Services Group by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock valued at $7,174,760,000 after buying an additional 521,455 shares during the period. Geode Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 1.1% in the second quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock worth $1,628,302,000 after purchasing an additional 93,346 shares during the last quarter. Norges Bank bought a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $1,477,836,000. Invesco Ltd. grew its position in shares of The PNC Financial Services Group by 0.5% in the 2nd quarter. Invesco Ltd. now owns 5,023,790 shares of the financial services provider’s stock worth $936,535,000 after buying an additional 26,798 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 134.9% during the second 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 period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value 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. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $213.81 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $214.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $83.85 billion, a PE ratio of 13.81, a P/E/G ratio of 1.20 and a beta of 1.01. The stock has a 50-day simple moving average of $193.23 and a two-hundred day simple moving average of $193.59.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 return on equity of 11.47% and a net margin of 19.30%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid 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 3.2%. The PNC Financial Services Group’s payout ratio is 43.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PNC. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $211.00 to $220.00 in a report on Thursday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday. Wells Fargo & Company raised their price target 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. Finally, Raymond James Financial increased their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.11.

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.