The PNC Financial Services Group, Inc $PNC Stock Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,837 shares of the financial services provider’s stock after selling 4,863 shares during the period. The PNC Financial Services Group makes up 1.3% of Trillium Asset Management LLC’s portfolio, making the stock its 12th largest holding. Trillium Asset Management LLC’s holdings in The PNC Financial Services Group were worth $42,194,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Optas LLC grew its stake in shares of The PNC Financial Services Group by 12.0% during the third quarter. Optas LLC now owns 1,555 shares of the financial services provider’s stock valued at $346,000 after buying an additional 167 shares during the last quarter. Phoenix Financial Ltd. bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $689,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of The PNC Financial Services Group by 70.4% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 121 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 50 shares during the last quarter. Danske Bank A S lifted its stake in shares of The PNC Financial Services Group by 0.4% during the 3rd quarter. Danske Bank A S now owns 305,316 shares of the financial services provider’s stock worth $67,860,000 after acquiring an additional 1,088 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in The PNC Financial Services Group by 49.7% during the 3rd quarter. Diversified Trust Co now owns 9,199 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 3,053 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Up 0.5%

Shares of NYSE:PNC traded up $1.23 during trading on Friday, reaching $232.26. 839,740 shares of the company were exchanged, compared to its average volume of 1,785,895. The firm has a market capitalization of $92.15 billion, a PE ratio of 12.36, a P/E/G ratio of 1.19 and a beta of 0.92. The business’s fifty day simple moving average is $227.61 and its 200-day simple moving average is $229.43. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.84 and a quick ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.18. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.35 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.24 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PNC shares. Truist Financial cut their price objective on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating on the stock in a research report on Monday, October 19th. UBS Group decreased their target price on The PNC Financial Services Group from $286.00 to $278.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Royal Bank Of Canada decreased their target price on The PNC Financial Services Group from $273.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Tuesday, October 13th. Finally, Wolfe Research initiated coverage on shares of The PNC Financial Services Group in a report on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $266.04.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.