Gamco Investors INC. ET AL Has $29.59 Million Position in The PNC Financial Services Group, Inc $PNC

Gamco Investors INC. ET AL lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,271 shares of the financial services provider’s stock after selling 10,421 shares during the quarter. Gamco Investors INC. ET AL’s holdings in The PNC Financial Services Group were worth $29,591,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in The PNC Financial Services Group by 12.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after acquiring an additional 6,572 shares during the period. US Bancorp DE lifted its stake in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after purchasing an additional 34,009 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after purchasing an additional 22,325 shares during the period. National Pension Service boosted its holdings in The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after purchasing an additional 26,305 shares during the period. Finally, Savant Capital LLC grew its position in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after purchasing an additional 7,064 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PNC shares. Barclays upped their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. TD Cowen lifted their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Truist Financial upped 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 research report on Thursday, December 18th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.44.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares of the company’s stock, valued at $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the sale, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 64,186 shares of company stock valued at $14,840,973. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Down 2.9%

Shares of PNC stock opened at $206.26 on Friday. The business has a 50-day moving average of $222.17 and a 200 day moving average of $205.02. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94. The stock has a market capitalization of $83.20 billion, a PE ratio of 12.43, a P/E/G ratio of 0.89 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly 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 company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.77 EPS. As a group, sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

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.