Capital Research Global Investors Acquires 53,765 Shares of The PNC Financial Services Group, Inc $PNC

Capital Research Global Investors boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,767,206 shares of the financial services provider’s stock after purchasing an additional 53,765 shares during the quarter. Capital Research Global Investors’ holdings in The PNC Financial Services Group were worth $556,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PNC. Brighton Jones LLC boosted its holdings in 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 acquiring an additional 984 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after acquiring an additional 170 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares during the last quarter. Fox Run Management L.L.C. bought a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $427,000. Finally, AE Wealth Management LLC boosted its position in shares of The PNC Financial Services Group by 41.6% during the second quarter. AE Wealth Management LLC now owns 12,902 shares of the financial services provider’s stock valued at $2,405,000 after buying an additional 3,788 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Royal Bank Of Canada upped their price target on shares of 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. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

Insider Buying and Selling

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

The PNC Financial Services Group Trading Up 0.5%

NYSE PNC opened at $206.27 on Wednesday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $83.20 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. The company’s 50-day simple moving average is $221.94 and its two-hundred day simple moving average is $205.29.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.77 EPS. Equities 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 was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.