Machina Capital S.A.S. Sells 15,175 Shares of The PNC Financial Services Group, Inc $PNC

Machina Capital S.A.S. reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 57.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 11,376 shares of the financial services provider’s stock after selling 15,175 shares during the period. Machina Capital S.A.S.’s holdings in The PNC Financial Services Group were worth $2,286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in The PNC Financial Services Group by 1.4% during the second quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock worth $7,174,760,000 after purchasing an additional 521,455 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of The PNC Financial Services Group by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock valued at $1,628,302,000 after buying an additional 93,346 shares in the last quarter. Norges Bank bought a new stake in The PNC Financial Services Group in the 2nd quarter worth approximately $1,477,836,000. Invesco Ltd. boosted its stake in The PNC Financial Services Group by 0.5% in the second 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 in the last quarter. Finally, AQR Capital Management LLC grew its position in 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 acquiring an additional 1,917,530 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 2.8%

PNC opened at $233.94 on Wednesday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $234.30. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $212.02 and a two-hundred day simple moving average of $199.66. The firm has a market capitalization of $91.74 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.95 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the firm earned $3.77 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. TD Cowen upped their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.00.

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.