Gamco Investors INC. ET AL Has $27.76 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Gamco Investors INC. ET AL lowered its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 8.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 133,393 shares of the financial services provider’s stock after selling 12,483 shares during the period. Gamco Investors INC. ET AL’s holdings in The PNC Financial Services Group were worth $27,758,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Compound Planning Inc. boosted its stake in shares of The PNC Financial Services Group by 9.4% during the 1st quarter. Compound Planning Inc. now owns 7,972 shares of the financial services provider’s stock worth $1,659,000 after acquiring an additional 687 shares during the period. Klingman & Associates LLC raised its stake in The PNC Financial Services Group by 4.9% in the 1st quarter. Klingman & Associates LLC now owns 1,085 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 51 shares during the period. Modern Wealth Management LLC raised its stake in The PNC Financial Services Group by 30.9% in the 1st quarter. Modern Wealth Management LLC now owns 4,560 shares of the financial services provider’s stock valued at $954,000 after acquiring an additional 1,077 shares during the period. Keebeck Wealth Management lifted its holdings in The PNC Financial Services Group by 25.6% during the 1st quarter. Keebeck Wealth Management now owns 2,936 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 598 shares during the last quarter. Finally, Orleans Capital Management Corp LA lifted its holdings in The PNC Financial Services Group by 2.1% during the 1st quarter. Orleans Capital Management Corp LA now owns 4,795 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PNC. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Bank of America raised their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Oppenheimer lifted their target price on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.48.

The PNC Financial Services Group Stock Up 0.5%

PNC stock opened at $250.59 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $256.49. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market capitalization of $100.63 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.99 and a beta of 0.91. The business’s fifty day moving average price is $236.91 and its two-hundred day moving average price is $224.87.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the company posted $3.85 earnings per share. The PNC Financial Services Group’s revenue was up 21.4% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is presently 44.03%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,300 shares of company stock valued at $10,694,574 in the last quarter. Company insiders own 0.38% of the company’s stock.

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.