UNIVEST FINANCIAL Corp Has $696,000 Stock Holdings in The PNC Financial Services Group, Inc $PNC

UNIVEST FINANCIAL Corp decreased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,735 shares of the financial services provider’s stock after selling 127 shares during the period. UNIVEST FINANCIAL Corp’s holdings in The PNC Financial Services Group were worth $696,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Simon Quick Advisors LLC grew its stake in shares of The PNC Financial Services Group by 21.2% in the 2nd quarter. Simon Quick Advisors LLC now owns 2,233 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 390 shares in the last quarter. Strs Ohio grew its stake in shares of The PNC Financial Services Group by 4.3% in the 2nd quarter. Strs Ohio now owns 146,382 shares of the financial services provider’s stock worth $27,289,000 after acquiring an additional 6,090 shares in the last quarter. Atria Investments Inc grew its stake in shares of The PNC Financial Services Group by 7.1% in the 2nd quarter. Atria Investments Inc now owns 67,452 shares of the financial services provider’s stock worth $12,574,000 after acquiring an additional 4,471 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in shares of The PNC Financial Services Group by 1.6% in the 2nd quarter. HBK Sorce Advisory LLC now owns 21,068 shares of the financial services provider’s stock worth $3,928,000 after acquiring an additional 326 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in shares of The PNC Financial Services Group by 10.9% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,116 shares of the financial services provider’s stock worth $767,000 after acquiring an additional 406 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several recent analyst reports. UBS Group upped their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Oppenheimer restated an “outperform” rating and set a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Finally, Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

PNC opened at $182.23 on Friday. The firm has a market cap of $71.76 billion, a P/E ratio of 11.77, a PEG ratio of 1.26 and a beta of 1.10. The firm has a 50-day moving average of $196.32 and a 200 day moving average of $185.63. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

The PNC Financial Services Group Profile

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.