The PNC Financial Services Group, Inc $PNC Shares Acquired by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 29.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 176,776 shares of the financial services provider’s stock after buying an additional 40,037 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in The PNC Financial Services Group were worth $36,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth about $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, EFG International AG acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,300 shares of company stock valued at $10,694,574. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Up 0.1%

NYSE:PNC opened at $245.61 on Friday. The company has a market capitalization of $98.63 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $249.01. The stock has a 50-day simple moving average of $224.53 and a 200 day simple moving average of $219.12. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company earned $3.51 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is 39.51%.

Analysts Set New Price Targets

A number of research analysts recently commented on PNC shares. Truist Financial increased their price target on The PNC Financial Services Group from $245.00 to $257.00 and gave the company a “hold” rating in a report on Friday. Oppenheimer upped their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Bank of America increased their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.39.

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.