The PNC Financial Services Group, Inc $PNC Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 46.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,581 shares of the financial services provider’s stock after selling 2,200 shares during the period. Twin Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. IMG Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group during the second quarter worth $27,000. Concord Wealth Partners increased its position in The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the period. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $34,000. FNY Investment Advisers LLC acquired a new position in The PNC Financial Services Group in the second quarter valued at $37,000. Finally, Bayforest Capital Ltd raised its stake in 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 last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $242.53 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50 day moving average price is $214.89 and its 200 day moving average price is $200.55. The firm has a market cap of $95.11 billion, a P/E ratio of 14.62, a PEG ratio of 1.01 and a beta of 0.99. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the previous year, the business posted $3.77 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Thursday, February 5th. Investors 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 2.8%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

Analyst Ratings Changes

PNC has been the subject of several recent analyst reports. Truist Financial raised 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 note on Thursday, December 18th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Royal Bank Of Canada lifted their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Fifteen equities research analysts have rated the stock with 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 PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $231.00.

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.