Murphy Pohlad Asset Management LLC Sells 2,825 Shares of The PNC Financial Services Group, Inc $PNC

Murphy Pohlad Asset Management LLC decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 17.9% in the second quarter, HoldingsChannel.com reports. The fund owned 12,999 shares of the financial services provider’s stock after selling 2,825 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in The PNC Financial Services Group were worth $2,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PNC. Vanguard Group Inc. increased its holdings in The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after acquiring an additional 248,252 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock worth $713,063,000 after buying an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after buying an additional 830,440 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.7%

Shares of PNC stock opened at $182.23 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $196.32 and its two-hundred day simple moving average is $185.63. The company has a market cap of $71.76 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Research 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 will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PNC shares. 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. Raymond James Financial boosted their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Truist Financial boosted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI boosted their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group 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.