Mariner LLC Sells 27,294 Shares of The PNC Financial Services Group, Inc $PNC

Mariner LLC lowered its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,072,139 shares of the financial services provider’s stock after selling 27,294 shares during the quarter. Mariner LLC’s holdings in The PNC Financial Services Group were worth $215,435,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in The PNC Financial Services Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock valued at $7,174,760,000 after purchasing an additional 521,455 shares in the last quarter. Capital International Investors grew its stake in The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after buying an additional 609,755 shares in the last quarter. Viking Global Investors LP increased its holdings in shares of The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after buying an additional 5,581,102 shares during the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $1,477,836,000. Finally, Invesco Ltd. raised its position in shares of The PNC Financial Services Group by 0.5% during the 2nd quarter. Invesco Ltd. now owns 5,023,790 shares of the financial services provider’s stock valued at $936,535,000 after buying an additional 26,798 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares in the company, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 in the last ninety days. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PNC shares. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Morgan Stanley upped their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $234.44.

The PNC Financial Services Group Price Performance

PNC stock opened at $200.55 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The firm has a 50-day moving average of $221.24 and a 200 day moving average of $205.24. The company has a market cap of $80.89 billion, a P/E ratio of 12.09, a PEG ratio of 0.84 and a beta of 0.98.

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

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

The PNC Financial Services Group 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.