World Investment Advisors Boosts Stock Holdings in The PNC Financial Services Group, Inc $PNC

World Investment Advisors lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 123.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,984 shares of the financial services provider’s stock after buying an additional 6,069 shares during the period. World Investment Advisors’ holdings in The PNC Financial Services Group were worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. US Bancorp DE boosted its holdings in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after buying an additional 34,009 shares during the period. Truist Financial Corp raised its stake in The PNC Financial Services Group by 3.3% during 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. Vanguard Group Inc. lifted its position in The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the last quarter. Teamwork Financial Advisors LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $13,711,000. Finally, Stoneridge Investment Partners LLC grew its stake in shares of The PNC Financial Services Group by 59.1% in the 4th quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock worth $4,953,000 after buying an additional 8,818 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PNC. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target for the company. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Stephens began coverage on The PNC Financial Services Group in a research report on Monday, June 15th. They set an “overweight” rating and a $265.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $246.72.

Insider Activity

In other news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,300 shares of company stock worth $10,694,574 over the last 90 days. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 0.1%

NYSE PNC opened at $232.39 on Friday. The stock has a market cap of $93.32 billion, a PE ratio of 13.50, a PEG ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 12 month low of $176.16 and a 12 month high of $243.94. The company’s 50-day moving average price is $222.68 and its 200-day moving average price is $217.55. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the company earned $3.51 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

The PNC Financial Services Group Company 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.