Boston Trust Walden Corp Has $14.12 Million Stake in The PNC Financial Services Group, Inc $PNC

Boston Trust Walden Corp trimmed its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,270 shares of the financial services provider’s stock after selling 13,457 shares during the period. Boston Trust Walden Corp’s holdings in The PNC Financial Services Group were worth $14,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Avior Wealth Management LLC lifted its stake in shares of The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 52 shares during the period. Rockland Trust Co. increased its holdings in The PNC Financial Services Group by 0.5% in the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after purchasing an additional 53 shares during the last quarter. Kennebec Savings Bank lifted its stake in The PNC Financial Services Group by 1.6% in the third quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after buying an additional 54 shares during the period. Almanack Investment Partners LLC. boosted its holdings in 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 worth $454,000 after buying an additional 55 shares during the last quarter. Finally, Winthrop Capital Management LLC grew its position in shares of The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after buying an additional 55 shares during the period. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

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

The PNC Financial Services Group Trading Down 0.9%

NYSE PNC opened at $211.94 on Tuesday. 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 stock’s 50 day moving average price is $193.82 and its two-hundred day moving average price is $194.04. The stock has a market capitalization of $83.11 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.20 and a beta of 1.01.

The PNC Financial Services Group (NYSE:PNC) last posted 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 PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company earned $3.49 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James Financial increased their price target on shares of 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. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. 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 report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average 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.