Paradigm Asset Management Co. LLC Sells 5,100 Shares of The PNC Financial Services Group, Inc $PNC

Paradigm Asset Management Co. LLC decreased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 49.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,300 shares of the financial services provider’s stock after selling 5,100 shares during the period. Paradigm Asset Management Co. LLC’s holdings in The PNC Financial Services Group were worth $988,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $427,000. Aspect Partners LLC raised its position in The PNC Financial Services Group by 4.1% in the 2nd quarter. Aspect Partners LLC now owns 1,609 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 63 shares during the period. Ipsen Advisor Group LLC lifted its stake in The PNC Financial Services Group by 5.4% in the second quarter. Ipsen Advisor Group LLC now owns 3,750 shares of the financial services provider’s stock worth $699,000 after purchasing an additional 193 shares during the last quarter. Princeton Capital Management LLC bought a new stake in The PNC Financial Services Group in the second quarter worth $311,000. Finally, Savant Capital LLC boosted its position in The PNC Financial Services Group by 82.1% during the second quarter. Savant Capital LLC now owns 80,888 shares of the financial services provider’s stock valued at $15,079,000 after buying an additional 36,464 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $184.07 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm’s 50-day simple moving average is $193.80 and its two-hundred day simple moving average is $186.91. The stock has a market cap of $72.49 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $3.49 earnings per share. Analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is 43.93%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Raymond James Financial boosted their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.47.

Insiders Place Their Bets

In related news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% 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 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,151 shares of company stock worth $400,092. Insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.