The PNC Financial Services Group, Inc $PNC Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 453.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,295 shares of the financial services provider’s stock after acquiring an additional 40,389 shares during the period. Sterling Capital Management LLC’s holdings in The PNC Financial Services Group were worth $10,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cvfg LLC raised its stake in shares of The PNC Financial Services Group by 2.5% in the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 43 shares during the last quarter. YANKCOM Partnership boosted its position in The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after buying an additional 46 shares during the last quarter. Westfuller Advisors LLC increased its holdings in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after buying an additional 46 shares during the period. Baron Wealth Management LLC increased its holdings in The PNC Financial Services Group by 3.0% in the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock worth $325,000 after buying an additional 46 shares during the period. Finally, Atom Investors LP raised its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.1%

PNC stock opened at $245.61 on Friday. The firm has a 50-day simple moving average of $224.53 and a 200-day simple moving average of $219.12. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $249.01. The stock has a market capitalization of $98.63 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.01 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $3.51 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the company a “hold” rating in a report on Friday. Barclays boosted their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Oppenheimer upped their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Citigroup raised their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.39.

Insider Activity at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. 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. Corporate 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.