The PNC Financial Services Group, Inc $PNC Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,154 shares of the financial services provider’s stock after selling 1,232 shares during the period. Metis Global Partners LLC’s holdings in The PNC Financial Services Group were worth $3,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Aspect Partners LLC raised its position in shares of The PNC Financial Services Group by 4.1% in the second quarter. Aspect Partners LLC now owns 1,609 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 63 shares during the period. Ipsen Advisor Group LLC increased its stake in shares of The PNC Financial Services Group by 5.4% in the 2nd quarter. Ipsen Advisor Group LLC now owns 3,750 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 193 shares in the last quarter. Princeton Capital Management LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $311,000. Savant Capital LLC grew its holdings in The PNC Financial Services Group by 82.1% in the second quarter. Savant Capital LLC now owns 80,888 shares of the financial services provider’s stock valued at $15,079,000 after purchasing an additional 36,464 shares during the period. Finally, Soltis Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 40.0% in the second quarter. Soltis Investment Advisors LLC now owns 1,752 shares of the financial services provider’s stock valued at $327,000 after buying an additional 501 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $184.07 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a market cap of $72.49 billion, a PE ratio of 11.89, a P/E/G 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 stock has a 50 day moving average price of $193.80 and a 200 day moving average price of $187.14.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company earned $3.49 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the business’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 sale, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,151 shares of company stock valued at $400,092. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PNC. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Raymond James Financial lifted their target price on shares of 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. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Finally, Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Profile

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.