The PNC Financial Services Group, Inc $PNC Shares Sold by Junto Capital Management LP

Junto Capital Management LP reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 47.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,294 shares of the financial services provider’s stock after selling 100,448 shares during the period. Junto Capital Management LP’s holdings in The PNC Financial Services Group were worth $22,161,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PNC. Westfuller Advisors LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $34,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $39,000. Bayforest Capital Ltd increased its holdings in shares of The PNC Financial Services Group by 237.1% in the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares during the last quarter. Country Trust Bank increased its holdings in shares of The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 68 shares during the last quarter. Finally, Corundum Trust Company INC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Royal Bank Of Canada boosted their price objective on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.44.

The PNC Financial Services Group Trading Down 0.8%

Shares of The PNC Financial Services Group stock opened at $200.98 on Monday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $81.07 billion, a P/E ratio of 12.11, a PEG ratio of 0.84 and a beta of 0.98. The company’s fifty day moving average is $221.54 and its two-hundred day moving average is $205.28.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the prior year, the company earned $3.77 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,186 shares of company stock valued at $14,840,973 in the last quarter. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.