Dynamic Technology Lab Private Ltd Has $2.06 Million Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in The PNC Financial Services Group by 124.3% in Q3 to 10,271 shares worth $2.064 million.
• Multiple analysts have raised price targets (Barclays to $271, TD Cowen to $260, RBC to $235), leaving a MarketBeat consensus rating of Moderate Buy with a $234.44 target.
• Insiders sold 64,186 shares worth $14.84 million over the last quarter (including recent EVP sales), leaving insiders owning just 0.41% of the stock.

Dynamic Technology Lab Private Ltd grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 124.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,271 shares of the financial services provider's stock after acquiring an additional 5,691 shares during the period. Dynamic Technology Lab Private Ltd's holdings in The PNC Financial Services Group were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $34,000. Bayforest Capital Ltd lifted its holdings in 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. True Wealth Design LLC boosted its position in The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider's stock valued at $41,000 after buying an additional 204 shares during the last quarter. Country Trust Bank boosted its position in 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 last quarter. Finally, Corundum Trust Company INC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $49,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted 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. Keefe, Bruyette & Woods lifted their price objective on 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. TD Cowen boosted their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, January 20th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an "overweight" rating in a research note on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and a consensus target price of $234.44.

Insider Activity

In related news, EVP Louis Robert Cestello sold 4,279 shares of The PNC Financial Services Group stock in a transaction that occurred 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 $4,415,066.67. This trade represents a 18.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the business's stock in a transaction that occurred 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. This represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,186 shares of company stock worth $14,840,973 over the last quarter. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 2.9%

Shares of The PNC Financial Services Group stock opened at $206.26 on Friday. The business has a fifty day simple moving average of $222.17 and a 200 day simple moving average of $205.11. The stock has a market cap of $83.20 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.86 and a beta of 0.98. 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, Inc has a 12 month low of $145.12 and a 12 month high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released 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 PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. The company's quarterly revenue was up 9.1% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 40.99%.

The PNC Financial Services Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.