Capitolis Liquid Global Markets LLC Has $26.11 Million Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Capitolis Liquid Global Markets LLC raised its PNC stake by 9% to 129,940 shares, worth about $26.11 million at the end of the quarter.
• PNC posted a strong quarter, beating estimates with EPS $4.88 vs. $4.23 and revenue of $6.07 billion (up 9.1% year-over-year), with ROE of 11.87% and a 20.4% net margin.
• The company pays a quarterly dividend of $1.70 (annualized $6.80), implying a yield of roughly 3.4% and a payout ratio near 41%.

Capitolis Liquid Global Markets LLC boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,940 shares of the financial services provider's stock after acquiring an additional 10,700 shares during the quarter. Capitolis Liquid Global Markets LLC's holdings in The PNC Financial Services Group were worth $26,109,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PNC. Kennebec Savings Bank raised its holdings in shares of The PNC Financial Services Group by 1.6% during the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider's stock valued at $688,000 after purchasing an additional 54 shares in the last quarter. SCS Capital Management LLC boosted its holdings in The PNC Financial Services Group by 0.6% in the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider's stock worth $1,590,000 after purchasing an additional 55 shares in the last quarter. Webster Bank N. A. increased its position in The PNC Financial Services Group by 0.5% during the third quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider's stock worth $2,205,000 after buying an additional 55 shares during the last quarter. YANKCOM Partnership increased its position in The PNC Financial Services Group by 2.3% during the third quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider's stock worth $510,000 after buying an additional 57 shares during the last quarter. Finally, Foster & Motley Inc. raised its holdings in The PNC Financial Services Group by 4.2% during the third quarter. Foster & Motley Inc. now owns 1,420 shares of the financial services provider's stock valued at $285,000 after buying an additional 57 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 0.8%

The PNC Financial Services Group stock opened at $200.98 on Friday. 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 debt-to-equity ratio of 0.90, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $81.07 billion, a PE ratio of 12.11, a PEG ratio of 0.84 and a beta of 0.98. The business's 50-day simple moving average is $221.54 and its 200-day simple moving average is $205.29.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) 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 return on equity of 11.87% and a net margin of 20.40%.The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.77 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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

Insider Activity at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares of the company's stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Louis Robert Cestello sold 4,279 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president owned 18,867 shares of the company's stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 64,186 shares of company stock worth $14,840,973. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Oppenheimer upped their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. raised their price objective 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. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an "outperform" rating in a report on Tuesday, January 20th. Truist Financial upped their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a "hold" rating in a research report on Thursday, December 18th. Finally, Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an "underweight" rating in a research report on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.44.

About The PNC Financial Services Group

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.

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