The PNC Financial Services Group, Inc $PNC Shares Sold by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,611 shares of the financial services provider’s stock after selling 2,359 shares during the quarter. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in The PNC Financial Services Group were worth $21,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Highland Investment Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the second quarter worth $28,000. Archer Investment Corp acquired a new stake in The PNC Financial Services Group during the second quarter worth $33,000. Wilkerson Advisory Group LLC boosted its stake in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $37,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $231.40 on Friday. The stock’s fifty day simple moving average is $227.87 and its 200 day simple moving average is $229.39. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $91.82 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.20 and a beta of 0.92. The PNC Financial Services Group, Inc has a one year low of $177.08 and a one year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The firm had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the prior year, the business posted $4.35 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc will post 19.24 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 42.58%.

Analyst Ratings Changes

PNC has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Robert W. Baird raised their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Wolfe Research assumed coverage on shares of The PNC Financial Services Group in a research note on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Finally, Truist Financial dropped their price target on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research report on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $266.04.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.