The PNC Financial Services Group, Inc $PNC Shares Acquired by Vestor Capital LLC

Vestor Capital LLC increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 758.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,309 shares of the financial services provider’s stock after acquiring an additional 3,807 shares during the quarter. Vestor Capital LLC’s holdings in The PNC Financial Services Group were worth $803,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in The PNC Financial Services Group by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,498,612 shares of the financial services provider’s stock worth $465,791,000 after purchasing an additional 24,363 shares in the last quarter. American Century Companies Inc. grew its position in shares of The PNC Financial Services Group by 44.3% in the second quarter. American Century Companies Inc. now owns 1,568,263 shares of the financial services provider’s stock valued at $292,356,000 after purchasing an additional 481,674 shares in the last quarter. AGP Franklin LLC purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $227,000. Stevens Capital Management LP acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $959,000. Finally, AlphaCore Capital LLC lifted its position in The PNC Financial Services Group by 23.7% during the second quarter. AlphaCore Capital LLC now owns 1,944 shares of the financial services provider’s stock worth $362,000 after buying an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $186.85 on Friday. The stock has a fifty day simple moving average of $189.73 and a 200-day simple moving average of $188.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market cap of $73.27 billion, a PE ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

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 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 firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the firm earned $3.49 EPS. The PNC Financial Services Group’s revenue was up 8.9% on a year-over-year basis. Equities 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Analysts Set New Price Targets

Several brokerages have issued reports on PNC. Evercore ISI upped their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Oppenheimer dropped their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a report on Wednesday. Truist Financial raised their price objective on shares of 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, Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $218.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,151 shares of company stock valued at $400,092 in the last ninety days. 0.41% of the stock is currently owned by corporate 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.