Janus Henderson Group PLC Trims Stock Holdings in The PNC Financial Services Group, Inc $PNC

Janus Henderson Group PLC reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,169,777 shares of the financial services provider’s stock after selling 273,670 shares during the period. Janus Henderson Group PLC’s holdings in The PNC Financial Services Group were worth $659,574,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PNC. Cvfg LLC grew its position in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 43 shares during the last quarter. YANKCOM Partnership lifted its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 46 shares during the last quarter. Westfuller Advisors LLC lifted its position in shares of The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 46 shares during the last quarter. Baron Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group by 3.0% during the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 46 shares during the period. Finally, Atom Investors LP boosted its stake in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. Stephens raised their price target on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America upped 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. Truist Financial raised their target price on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $248.46 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $239.02 and its 200-day moving average price is $225.62. The firm has a market cap of $99.77 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.00 and a beta of 0.91. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $256.49.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm earned $3.85 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

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

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were 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 approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. 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.