Sunbelt Securities Inc. Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sunbelt Securities Inc. increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 10.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,983 shares of the financial services provider’s stock after acquiring an additional 183 shares during the quarter. Sunbelt Securities Inc.’s holdings in The PNC Financial Services Group were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Pasadena Private Wealth LLC increased its stake in The PNC Financial Services Group by 6.7% during the third 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 during the last quarter. National Pension Service increased its position in shares of The PNC Financial Services Group by 3.9% during the 3rd quarter. National Pension Service now owns 691,617 shares of the financial services provider’s stock worth $104,247,000 after purchasing an additional 25,936 shares during the last quarter. CENTRAL TRUST Co raised its holdings in The PNC Financial Services Group by 1.2% in the 3rd quarter. CENTRAL TRUST Co now owns 10,786 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 125 shares during the period. M&T Bank Corp lifted its position in The PNC Financial Services Group by 4.8% in the third quarter. M&T Bank Corp now owns 350,524 shares of the financial services provider’s stock valued at $52,375,000 after buying an additional 16,152 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in The PNC Financial Services Group by 4.0% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,698 shares of the financial services provider’s stock worth $2,196,000 after buying an additional 568 shares during the period. 82.05% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $123.72 on Friday. The stock has a market cap of $49.45 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.16. The company has a fifty day simple moving average of $155.20 and a 200-day simple moving average of $156.92. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.28. The PNC Financial Services Group, Inc. has a 12-month low of $120.95 and a 12-month high of $199.43.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last announced its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The business had revenue of $5.76 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm earned $2.86 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc. will post 14.66 EPS for the current fiscal 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 given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, January 13th. This represents a $6.00 annualized dividend and a dividend yield of 4.85%. The PNC Financial Services Group’s dividend payout ratio is presently 43.26%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PNC. Citigroup raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Monday, March 13th. Piper Sandler raised 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. Wolfe Research boosted their price objective on The PNC Financial Services Group from $164.00 to $170.00 in a report on Thursday, December 1st. Barclays lowered their target price on The PNC Financial Services Group from $222.00 to $218.00 and set an “overweight” rating for the company in a report on Tuesday, January 3rd. Finally, StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $180.36.

Insider Activity

In related news, CEO William S. Demchak purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $129.70 per share, for a total transaction of $129,700.00. Following the purchase, the chief executive officer now directly owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William S. Demchak bought 6,550 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The stock was purchased at an average cost of $153.38 per share, with a total value of $1,004,639.00. Following the transaction, the chief executive officer now directly owns 482,924 shares in the company, valued at $74,070,883.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak purchased 1,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $129.70 per share, for a total transaction of $129,700.00. Following the transaction, the chief executive officer now owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Profile

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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.