The PNC Financial Services Group, Inc $PNC Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 91.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 558 shares of the financial services provider’s stock after selling 6,033 shares during the period. Aster Capital Management DIFC Ltd’s holdings in The PNC Financial Services Group were worth $112,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Westfuller Advisors LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $34,000. Bayforest Capital Ltd grew its position in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares during the period. True Wealth Design LLC increased its stake in shares of The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares in the last quarter. Country Trust Bank raised its holdings in The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 68 shares during the period. Finally, Corundum Trust Company INC purchased a new position in The PNC Financial Services Group during the third quarter worth approximately $49,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $211.85 on Monday. The firm has a market capitalization of $85.46 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The stock’s 50-day simple moving average is $222.28 and its 200-day simple moving average is $204.52.

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 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 business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the previous year, the business earned $3.77 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th 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, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 in the last quarter. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Truist Financial raised their target price 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 upped their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. Finally, Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group 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.