The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,739 shares of the financial services provider's stock after acquiring an additional 20,440 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in The PNC Financial Services Group were worth $24,035,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $32,000. Whipplewood Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $33,000. REAP Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $39,000. Finally, True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 59 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $150.50, for a total value of $96,470.50. Following the completion of the transaction, the chief executive officer now directly owns 562,291 shares in the company, valued at approximately $84,624,795.50. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,428 shares of company stock valued at $1,882,322 over the last 90 days. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. TD Cowen began coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price for the company. Royal Bank Of Canada cut their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Truist Financial cut their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Stock Up 1.8%

Shares of PNC opened at $185.81 on Friday. The company has a market cap of $73.50 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.53 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $171.46 and a two-hundred day simple moving average of $180.48. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.44%. The PNC Financial Services Group's payout ratio is 45.20%.

The PNC Financial Services Group Company 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.

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