The PNC Financial Services Group, Inc $PNC Holdings Reduced by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,220 shares of the financial services provider’s stock after selling 4,005 shares during the quarter. Vaughan David Investments LLC IL’s holdings in The PNC Financial Services Group were worth $10,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the period. Empowered Funds LLC grew its stake in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 170 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares in the last quarter. CX Institutional lifted its holdings in shares of The PNC Financial Services Group by 9.5% during the second quarter. CX Institutional now owns 2,865 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 249 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 49.9% in the second quarter. Farther Finance Advisors LLC now owns 9,695 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 3,228 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 2.8%

The PNC Financial Services Group stock opened at $220.99 on Tuesday. The company has a fifty day simple moving average of $203.44 and a 200 day simple moving average of $197.50. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $227.00. The company has a market cap of $86.66 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99. 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 PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) 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 company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the firm earned $3.77 EPS. The PNC Financial Services Group’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNC. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. UBS Group raised their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Citigroup lifted their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Oppenheimer cut their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. One equities 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $223.11.

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.