FourThought Financial Partners LLC Has $6.35 Million Holdings in The PNC Financial Services Group, Inc $PNC

FourThought Financial Partners LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,072 shares of the financial services provider’s stock after purchasing an additional 1,307 shares during the quarter. FourThought Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $6,352,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC increased its stake in shares of The PNC Financial Services Group by 28.1% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock valued at $5,159,000 after purchasing an additional 6,430 shares during the last quarter. Harbour Investments Inc. boosted its stake in The PNC Financial Services Group by 115.1% in the second quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock valued at $1,050,000 after buying an additional 3,013 shares in the last quarter. National Bank of Canada FI grew its position in The PNC Financial Services Group by 157.1% in the first quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock valued at $152,726,000 after acquiring an additional 530,873 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in The PNC Financial Services Group during the second quarter worth about $573,000. Finally, Vanguard Group Inc. boosted its stake in shares of The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on 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 approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,151 shares of company stock worth $400,092 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. UBS Group increased their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Citigroup boosted their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $188.95 on Tuesday. 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, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The firm has a market cap of $74.10 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The firm’s fifty day moving average is $189.46 and its 200-day moving average is $189.04.

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

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

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.