Modera Wealth Management LLC trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,536 shares of the financial services provider’s stock after selling 3,180 shares during the period. Modera Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $31,236,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Highland Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $28,000. Archer Investment Corp purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $33,000. Wilkerson Advisory Group LLC lifted its stake in shares of The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Finally, Dunhill Financial LLC acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $37,000. 83.53% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at The PNC Financial Services Group
In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.38% of the company’s stock.
Analyst Upgrades and Downgrades
PNC has been the topic of several research reports. Oppenheimer upped their target price on The PNC Financial Services Group from $263.00 to $269.00 and gave the company an “outperform” rating in a report on Friday, October 16th. Truist Financial cut their price target on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research note on Monday, October 19th. Raymond James Financial decreased their price objective on shares of The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. DA Davidson increased their price objective on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Barclays increased their price objective on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $266.17.
View Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Price Performance
Shares of NYSE:PNC opened at $227.88 on Friday. The business’s fifty day moving average price is $230.03 and its two-hundred day moving average price is $228.88. The stock has a market cap of $90.91 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84. 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 – Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.35 earnings per share. On average, analysts forecast that The PNC Financial Services Group, Inc will post 19.22 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is 42.58%.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.
PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.
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