GTS Securities LLC Sells 2,184 Shares of The PNC Financial Services Group, Inc $PNC

GTS Securities LLC lowered its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 71.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 872 shares of the financial services provider’s stock after selling 2,184 shares during the quarter. GTS Securities LLC’s holdings in The PNC Financial Services Group were worth $215,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Truist Financial Corp increased its stake in The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after purchasing an additional 39,589 shares in the last quarter. Stoneridge Investment Partners LLC boosted its position in shares of The PNC Financial Services Group by 59.1% during the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock worth $4,953,000 after purchasing an additional 8,818 shares in the last quarter. AMG National Trust Bank bought a new position in shares of The PNC Financial Services Group during the second quarter worth $30,557,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $35,124,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $69,078,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $239.70 on Tuesday. The stock has a 50-day moving average price of $249.51 and a two-hundred day moving average price of $229.53. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $258.96. The stock has a market cap of $95.63 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.85 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.3%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays boosted their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price target on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Stephens lifted their price objective on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Oppenheimer boosted their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $265.73.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Stacy M. Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,654 shares of company stock valued at $1,627,011 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

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.