Profund Advisors LLC Reduces Holdings in The PNC Financial Services Group, Inc $PNC

Profund Advisors LLC reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,066 shares of the financial services provider’s stock after selling 1,040 shares during the quarter. Profund Advisors LLC’s holdings in The PNC Financial Services Group were worth $944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Ignite Planners LLC lifted its position in The PNC Financial Services Group by 8.4% during the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after buying an additional 126 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of The PNC Financial Services Group by 18.8% in the 1st quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock worth $8,988,000 after acquiring an additional 8,077 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in shares of The PNC Financial Services Group by 28.1% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock worth $5,159,000 after acquiring an additional 6,430 shares during the period. Brookwood Investment Group LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $343,000. Finally, National Bank of Canada FI boosted its position in shares of The PNC Financial Services Group by 157.1% during the 1st quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock valued at $152,726,000 after acquiring an additional 530,873 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,151 shares of company stock valued at $400,092 in the last 90 days. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent analyst reports. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. UBS Group upped their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Finally, Evercore ISI lifted their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Trading Down 0.2%

PNC opened at $184.76 on Wednesday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $192.93 and a 200-day simple moving average of $187.71. The firm has a market cap of $72.46 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the company earned $3.49 EPS. The PNC Financial Services Group’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.