Cullen Capital Management LLC Has $40.47 Million Stake in The PNC Financial Services Group, Inc $PNC

Cullen Capital Management LLC reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,403 shares of the financial services provider’s stock after selling 3,472 shares during the period. Cullen Capital Management LLC owned 0.05% of The PNC Financial Services Group worth $40,468,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S lifted its stake in The PNC Financial Services Group by 159.8% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 47,341 shares of the financial services provider’s stock valued at $9,512,000 after buying an additional 29,121 shares in the last quarter. Optimize Financial Inc bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $444,000. Savant Capital LLC grew its position in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after acquiring an additional 7,064 shares during the period. J.W. Cole Advisors Inc. raised its stake in The PNC Financial Services Group by 1.5% in the third quarter. J.W. Cole Advisors Inc. now owns 15,145 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 218 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in The PNC Financial Services Group by 1.2% during the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after purchasing an additional 22,325 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PNC shares. TD Cowen raised their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. 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 report on Tuesday, January 20th. Finally, Truist Financial boosted their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. One research 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $231.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $237.25 on Thursday. The company has a market capitalization of $93.04 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.98 and a beta of 0.99. 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 fifty day simple moving average of $212.93 and a two-hundred day simple moving average of $199.92. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $240.37.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly 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 net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the firm posted $3.77 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

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.