Conning Inc. Has $33.46 Million Position in The PNC Financial Services Group, Inc $PNC

Conning Inc. lowered its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,513 shares of the financial services provider’s stock after selling 30,046 shares during the period. Conning Inc.’s holdings in The PNC Financial Services Group were worth $33,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 170 shares during the period. NBC Securities Inc. grew its position in The PNC Financial Services Group by 15.5% during the second quarter. NBC Securities Inc. now owns 5,847 shares of the financial services provider’s stock valued at $1,090,000 after purchasing an additional 784 shares in the last quarter. Czech National Bank grew its position in The PNC Financial Services Group by 6.3% during the second quarter. Czech National Bank now owns 96,690 shares of the financial services provider’s stock valued at $18,025,000 after purchasing an additional 5,750 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its stake in The PNC Financial Services Group by 7.9% in the 2nd quarter. Fiduciary Alliance LLC now owns 4,420 shares of the financial services provider’s stock valued at $824,000 after buying an additional 322 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following 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 SEC, which is available through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PNC shares. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Truist Financial lifted their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Oppenheimer dropped their target price 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, November 19th. Finally, Morgan Stanley lifted their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $222.06.

The PNC Financial Services Group Trading Down 0.2%

The PNC Financial Services Group stock opened at $212.07 on Thursday. The company’s fifty day moving average price is $201.26 and its two-hundred day moving average price is $196.88. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $220.54. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $83.16 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.91 and a beta of 0.99.

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

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

The PNC Financial Services Group Company Profile

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.