Vise Technologies Inc. Buys New Shares in The PNC Financial Services Group, Inc $PNC

Vise Technologies Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, Holdings Channel reports. The fund purchased 23,384 shares of the financial services provider’s stock, valued at approximately $5,758,000.

A number of other large investors have also recently bought and sold shares of PNC. Truist Financial Corp increased its holdings in shares of The PNC Financial Services Group by 3.3% during the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after acquiring an additional 39,589 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares in the last quarter. Stoneridge Investment Partners LLC grew its position in The PNC Financial Services Group by 59.1% in the 4th quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after purchasing an additional 8,818 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $35,124,000. Finally, Empire Life Investments Inc. raised its holdings in The PNC Financial Services Group by 8.7% during the fourth quarter. Empire Life Investments Inc. now owns 217,119 shares of the financial services provider’s stock worth $45,319,000 after buying an additional 17,418 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Argus lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Royal Bank Of Canada raised their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft lowered The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a report on Thursday, July 23rd. Finally, Stephens raised their target price on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.73.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 51,654 shares of company stock valued at $11,552,661. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $242.26 on Friday. The firm has a market cap of $96.65 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.98 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96. The firm’s 50-day simple moving average is $248.17 and its two-hundred day simple moving average is $229.25.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the firm earned $3.85 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

The PNC Financial Services Group Company 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.