Moors & Cabot Inc. Purchases 9,342 Shares of The PNC Financial Services Group, Inc $PNC

Moors & Cabot Inc. increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 40.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,282 shares of the financial services provider’s stock after acquiring an additional 9,342 shares during the period. Moors & Cabot Inc.’s holdings in The PNC Financial Services Group were worth $6,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC boosted its position in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC grew its holdings in The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 1,449 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in The PNC Financial Services Group by 32.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 2,543 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 630 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in The PNC Financial Services Group by 507.4% in the 2nd quarter. SG Americas Securities LLC now owns 31,555 shares of the financial services provider’s stock valued at $5,882,000 after acquiring an additional 26,360 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Truist Financial increased their price objective on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Morgan Stanley raised their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada upped 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. Finally, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Activity

In related news, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the sale, the executive vice president directly owned 18,867 shares of the company’s stock, valued at $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 in the last three months. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $200.55 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The company has a fifty day moving average of $221.24 and a 200-day moving average of $205.24. The firm has a market capitalization of $80.89 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.84 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the firm earned $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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

About The PNC Financial Services Group

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.