Ieq Capital LLC Sells 12,152 Shares of The PNC Financial Services Group, Inc $PNC

Ieq Capital LLC reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 229,671 shares of the financial services provider’s stock after selling 12,152 shares during the quarter. Ieq Capital LLC’s holdings in The PNC Financial Services Group were worth $47,939,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Storgate LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth $572,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in The PNC Financial Services Group by 8.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,218,702 shares of the financial services provider’s stock worth $671,840,000 after purchasing an additional 253,842 shares during the period. Wells Fargo & Company MN raised its holdings in The PNC Financial Services Group by 2.8% in the 4th quarter. Wells Fargo & Company MN now owns 3,428,060 shares of the financial services provider’s stock worth $715,539,000 after purchasing an additional 91,765 shares during the period. Cullen Capital Management LLC raised its holdings in The PNC Financial Services Group by 29.0% in the 4th quarter. Cullen Capital Management LLC now owns 259,784 shares of the financial services provider’s stock worth $54,225,000 after purchasing an additional 58,381 shares during the period. Finally, Korea Investment CORP raised its holdings in The PNC Financial Services Group by 3.9% in the 4th quarter. Korea Investment CORP now owns 194,072 shares of the financial services provider’s stock worth $40,509,000 after purchasing an additional 7,300 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PNC shares. Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Truist Financial raised their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Oppenheimer raised their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Trading Up 1.5%

Shares of PNC stock opened at $237.51 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $95.38 billion, a PE ratio of 13.80, a PEG ratio of 0.97 and a beta of 0.92. The stock has a fifty day simple moving average of $220.85 and a two-hundred day simple moving average of $216.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 EPS. The PNC Financial Services Group’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.38% of the company’s stock.

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.