Entropy Technologies LP Lowers Stock Holdings in The PNC Financial Services Group, Inc $PNC

Entropy Technologies LP lowered its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 78.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,000 shares of the financial services provider’s stock after selling 43,386 shares during the period. Entropy Technologies LP’s holdings in The PNC Financial Services Group were worth $2,237,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group in the first quarter worth about $27,000. IMG Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $27,000. Concord Wealth Partners boosted its stake in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. WPG Advisers LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter valued at approximately $36,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Raymond James Financial increased their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Truist Financial raised their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. UBS Group boosted their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.00.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $186.85 on Friday. The business’s 50 day moving average price is $189.73 and its 200-day moving average price is $188.53. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a market cap of $73.27 billion, a P/E ratio of 12.07, 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the firm earned $3.49 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors 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 dividend yield of 3.6%. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Insider Activity

In related news, EVP Guild Deborah sold 1,080 shares of the 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 of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,151 shares of company stock worth $400,092 over the last quarter. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Company 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.