The PNC Financial Services Group, Inc $PNC Stock: VestGen Advisors LLC Lowers Holdings

VestGen Advisors LLC reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 65.2% in the 3rd quarter, Holdings Channel reports. The firm owned 4,113 shares of the financial services provider’s stock after selling 7,694 shares during the period. VestGen Advisors LLC’s holdings in The PNC Financial Services Group were worth $914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Highland Investment Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $28,000. Archer Investment Corp acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $33,000. Wilkerson Advisory Group LLC raised its holdings in shares of The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $37,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNC. Citigroup reduced their price objective on The PNC Financial Services Group from $290.00 to $270.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Tuesday, October 13th. Truist Financial lowered their target price on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research note on Monday, October 19th. DA Davidson increased their target price on shares of The PNC Financial Services Group from $247.00 to $281.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Stephens reduced their price target on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.17.

The PNC Financial Services Group Stock Down 1.7%

Shares of PNC opened at $227.88 on Friday. The company has a market capitalization of $90.91 billion, a PE ratio of 12.13, a PEG ratio of 1.18 and a beta of 0.94. The PNC Financial Services Group, Inc has a 12 month low of $177.08 and a 12 month high of $258.96. The stock’s 50-day moving average price is $230.03 and its two-hundred day moving average price is $228.88. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the prior year, the company posted $4.35 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 42.58%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.