The PNC Financial Services Group, Inc $PNC Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc cut its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 19.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 52,218 shares of the financial services provider’s stock after selling 12,976 shares during the period. Prospera Financial Services Inc’s holdings in The PNC Financial Services Group were worth $9,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in The PNC Financial Services Group by 1,133.3% during the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 204 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of The PNC Financial Services Group by 13.2% during the first quarter. Summit Investment Advisors Inc. now owns 21,471 shares of the financial services provider’s stock worth $3,774,000 after purchasing an additional 2,509 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group by 41.6% in the second quarter. AE Wealth Management LLC now owns 12,902 shares of the financial services provider’s stock valued at $2,405,000 after purchasing an additional 3,788 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $427,000. Finally, Aspect Partners LLC increased its stake in The PNC Financial Services Group by 4.1% during the 2nd quarter. Aspect Partners LLC now owns 1,609 shares of the financial services provider’s stock worth $300,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.6%

The PNC Financial Services Group stock opened at $184.07 on Friday. The stock has a market cap of $72.49 billion, a PE ratio of 11.89, 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 current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average is $193.80 and its two-hundred day moving average is $187.14. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 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. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 EPS. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued 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 yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value 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 $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on 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 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 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 90 days. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PNC. Raymond James Financial raised their price target on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Finally, Truist Financial lifted 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 note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.47.

About The PNC Financial Services Group

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.