CVA Family Office LLC Sells 595 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

CVA Family Office LLC cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 70.6% in the third quarter, HoldingsChannel reports. The firm owned 248 shares of the financial services provider’s stock after selling 595 shares during the period. CVA Family Office LLC’s holdings in The PNC Financial Services Group were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. IHT Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter valued at $367,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth $5,837,000. Sunbelt Securities Inc. raised its position in shares of The PNC Financial Services Group by 10.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,983 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 183 shares in the last quarter. Pasadena Private Wealth LLC raised its position in shares of The PNC Financial Services Group by 6.7% in the 3rd quarter. Pasadena Private Wealth LLC now owns 1,434 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 90 shares in the last quarter. Finally, National Pension Service raised its position in shares of The PNC Financial Services Group by 3.9% in the 3rd quarter. National Pension Service now owns 691,617 shares of the financial services provider’s stock worth $104,247,000 after acquiring an additional 25,936 shares in the last quarter. 82.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Robert W. Baird reduced their price target on The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, January 19th. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Sandler boosted their price target on The PNC Financial Services Group from $150.00 to $164.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 target price on the stock in a research note on Tuesday, January 10th. Finally, UBS Group downgraded The PNC Financial Services Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $190.00 to $176.00 in a research note on Tuesday, January 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $180.36.

Insider Activity

In related news, CEO William S. Demchak acquired 1,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $129.70 per share, with a total value of $129,700.00. Following the acquisition, the chief executive officer now directly owns 525,349 shares in the company, valued at approximately $68,137,765.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO William S. Demchak acquired 6,550 shares of the firm’s stock in a transaction dated Friday, January 20th. The stock was acquired at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the acquisition, the chief executive officer now directly owns 482,924 shares in the company, valued at approximately $74,070,883.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak acquired 1,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $129.70 per share, with a total value of $129,700.00. Following the acquisition, the chief executive officer now owns 525,349 shares in the company, valued at $68,137,765.30. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Stock Up 4.1 %

The PNC Financial Services Group stock opened at $130.12 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79. The business’s 50-day simple moving average is $156.01 and its two-hundred day simple moving average is $157.17. The company has a market cap of $52.01 billion, a PE ratio of 9.38, a PEG ratio of 1.92 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $120.95 and a fifty-two week high of $199.43.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.46). The firm had revenue of $5.76 billion for the quarter, compared to analysts’ expectations of $5.71 billion. The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.86 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 14.66 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, January 13th. This represents a $6.00 annualized dividend and a dividend yield of 4.61%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.26%.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.