AustralianSuper Pty Ltd Sells 14,827 Shares of The PNC Financial Services Group, Inc $PNC

AustralianSuper Pty Ltd lowered its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 38.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,718 shares of the financial services provider’s stock after selling 14,827 shares during the quarter. AustralianSuper Pty Ltd’s holdings in The PNC Financial Services Group were worth $4,766,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $27,000. Concord Wealth Partners lifted its holdings in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares during the period. Westfuller Advisors LLC purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $34,000. FNY Investment Advisers LLC bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $37,000. Finally, True Wealth Design LLC increased its stake in shares of The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Cowen raised their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Barclays increased their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $231.00.

Insider Buying and Selling at The PNC Financial Services Group

In other news, 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 transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents 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 through the SEC website. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 1.4%

NYSE:PNC opened at $224.55 on Friday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $227.78. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day simple moving average is $209.69 and its 200 day simple moving average is $198.91. The firm has a market capitalization of $88.06 billion, a P/E ratio of 13.53, a PEG ratio of 0.93 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter last year, the firm earned $3.77 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

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.