Ferguson Wellman Capital Management Inc. Reduces Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ferguson Wellman Capital Management Inc. decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,304 shares of the financial services provider’s stock after selling 356 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $1,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Hilltop Holdings Inc. increased its stake in The PNC Financial Services Group by 3.6% during the 4th quarter. Hilltop Holdings Inc. now owns 2,005 shares of the financial services provider’s stock worth $402,000 after buying an additional 69 shares during the period. Gotham Asset Management LLC increased its position in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Gotham Asset Management LLC now owns 11,881 shares of the financial services provider’s stock worth $2,382,000 after purchasing an additional 2,179 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of The PNC Financial Services Group by 30.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 38,659 shares of the financial services provider’s stock worth $7,751,000 after purchasing an additional 9,112 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 13.0% in the 4th quarter. Mutual Advisors LLC now owns 2,195 shares of the financial services provider’s stock valued at $440,000 after buying an additional 252 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of The PNC Financial Services Group by 19.6% in the 4th quarter. Blair William & Co. IL now owns 16,908 shares of the financial services provider’s stock valued at $3,390,000 after buying an additional 2,773 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Insider Activity

In other news, EVP Michael P. Lyons sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total transaction of $584,360.00. Following the sale, the executive vice president now owns 174,651 shares in the company, valued at $29,159,730.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 2.4 %

NYSE PNC opened at $154.67 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day simple moving average is $163.92 and its 200 day simple moving average is $168.71. The PNC Financial Services Group, Inc. has a 12 month low of $146.39 and a 12 month high of $228.14. The company has a market capitalization of $63.43 billion, a P/E ratio of 12.10, a PEG ratio of 2.37 and a beta of 1.21.

The PNC Financial Services Group (NYSE:PNCGet Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm earned $4.50 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 14.5 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Wednesday, July 13th were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, July 12th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.88%. The PNC Financial Services Group’s dividend payout ratio is currently 46.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup decreased their price target on shares of The PNC Financial Services Group from $190.00 to $170.00 in a report on Tuesday, July 12th. Barclays decreased their price target on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Jefferies Financial Group decreased their price target on shares of The PNC Financial Services Group from $188.00 to $156.00 in a report on Monday, July 11th. Piper Sandler set a $160.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, July 19th. Finally, Wells Fargo & Company reduced their target price on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $197.78.

About The PNC Financial Services Group

(Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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