Capitolis Liquid Global Markets LLC Has $26.11 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Capitolis Liquid Global Markets LLC grew its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 9.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,940 shares of the financial services provider’s stock after acquiring an additional 10,700 shares during the quarter. Capitolis Liquid Global Markets LLC’s holdings in The PNC Financial Services Group were worth $26,109,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter valued at $34,000. Financial Life Planners bought a new position in The PNC Financial Services Group in the third quarter worth $39,000. Bayforest Capital Ltd boosted its stake in The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares in the last quarter. Corundum Trust Company INC bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at $49,000. Finally, Country Trust Bank increased its holdings in The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.8%

Shares of NYSE PNC opened at $200.98 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average of $221.54 and a two-hundred day moving average of $205.29. The stock has a market cap of $81.07 billion, a PE ratio of 12.11, a PEG ratio of 0.84 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.77 EPS. As a group, equities research 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 Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on PNC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Royal Bank Of Canada upped their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Truist Financial raised their price target 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. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 over the last three months. 0.41% of the stock is owned by corporate insiders.

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.