Junto Capital Management LP Lowers Position in The PNC Financial Services Group, Inc $PNC

Junto Capital Management LP trimmed its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 47.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,294 shares of the financial services provider’s stock after selling 100,448 shares during the quarter. Junto Capital Management LP’s holdings in The PNC Financial Services Group were worth $22,161,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Westfuller Advisors LLC purchased a new stake in The PNC Financial Services Group in the 3rd quarter valued at approximately $34,000. Financial Life Planners acquired a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $39,000. Bayforest Capital Ltd raised its stake in shares of The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after buying an additional 147 shares in the last quarter. Corundum Trust Company INC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $49,000. Finally, Country Trust Bank lifted its holdings in shares of The PNC Financial Services Group by 38.9% in the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after buying an additional 68 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 64,186 shares of company stock worth $14,840,973. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PNC shares. JPMorgan Chase & Co. lifted their price target on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Down 0.8%

PNC opened at $200.98 on Monday. The firm has a market cap of $81.07 billion, a P/E ratio of 12.11, a PEG ratio of 0.84 and a beta of 0.98. The business’s fifty day simple moving average is $221.54 and its 200 day simple moving average is $205.28. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.77 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is presently 40.99%.

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.