The PNC Financial Services Group, Inc $PNC is Constant Guidance Financial LLC’s 9th Largest Position

Constant Guidance Financial LLC lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 25.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,960 shares of the financial services provider’s stock after selling 5,788 shares during the quarter. The PNC Financial Services Group comprises 2.6% of Constant Guidance Financial LLC’s holdings, making the stock its 9th largest position. Constant Guidance Financial LLC’s holdings in The PNC Financial Services Group were worth $3,408,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at $1,477,836,000. Viking Global Investors LP acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $442,871,000. AQR Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 134.9% in the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after buying an additional 1,917,530 shares in the last quarter. Federated Hermes Inc. boosted its position in The PNC Financial Services Group by 43.8% during the second quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after acquiring an additional 845,148 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in The PNC Financial Services Group by 491.7% during the 2nd quarter. Marshall Wace LLP now owns 1,005,926 shares of the financial services provider’s stock valued at $187,525,000 after acquiring an additional 835,926 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Truist Financial boosted their price objective on 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. Wells Fargo & Company raised 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. TD Cowen lifted their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the transaction, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,186 shares of company stock worth $3,296,973 over the last ninety days. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1%

Shares of PNC opened at $232.95 on Monday. The company’s 50-day moving average price is $221.41 and its 200 day moving average price is $203.50. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm has a market cap of $91.35 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the business earned $3.77 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

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.