Glaxis Capital Management LLC Makes New $835,000 Investment in The PNC Financial Services Group, Inc $PNC

Glaxis Capital Management LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,000 shares of the financial services provider’s stock, valued at approximately $835,000. The PNC Financial Services Group accounts for about 1.4% of Glaxis Capital Management LLC’s portfolio, making the stock its 16th biggest holding.

Several other large investors also recently bought and sold shares of the stock. Quarry LP acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $29,000. Beacon Financial Strategies CORP acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $35,000. JPL Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at approximately $37,000. Finally, Financial Life Planners acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $234.12 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a fifty day moving average price of $220.29 and a 200 day moving average price of $215.95. The PNC Financial Services Group, Inc has a 1 year low of $172.73 and a 1 year high of $243.94. The stock has a market cap of $94.02 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.96 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the business posted $3.51 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Oppenheimer lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, 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. Insiders own 0.38% of the company’s stock.

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.