The PNC Financial Services Group, Inc $PNC Shares Sold by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors trimmed its stake in PNC by 3.2% in the fourth quarter, selling 5,064 shares and leaving it with 151,110 shares worth about $31.5 million.
• PNC posted stronger-than-expected quarterly earnings, reporting EPS of $4.32 versus a $3.92 consensus estimate, while revenue rose 13.1% year over year to $6.17 billion.
• The company continues to return capital to shareholders, paying a quarterly dividend of $1.70 per share for a 2.9% yield, even as several insiders recently sold shares and analysts maintain a Moderate Buy consensus.

Aptus Capital Advisors LLC cut its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,110 shares of the financial services provider's stock after selling 5,064 shares during the period. Aptus Capital Advisors LLC's holdings in The PNC Financial Services Group were worth $31,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Arete Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group by 64.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 2,209 shares of the financial services provider's stock worth $461,000 after buying an additional 865 shares during the period. Jacobi Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 1.3% during the fourth quarter. Jacobi Capital Management LLC now owns 31,732 shares of the financial services provider's stock worth $6,623,000 after buying an additional 405 shares during the period. FORA Capital LLC boosted its position in shares of The PNC Financial Services Group by 274.3% during the fourth quarter. FORA Capital LLC now owns 11,179 shares of the financial services provider's stock worth $2,333,000 after buying an additional 8,192 shares during the period. Kestra Advisory Services LLC boosted its position in shares of The PNC Financial Services Group by 8.3% during the fourth quarter. Kestra Advisory Services LLC now owns 138,329 shares of the financial services provider's stock worth $28,873,000 after buying an additional 10,633 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its position in shares of The PNC Financial Services Group by 12.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 6,602 shares of the financial services provider's stock worth $1,378,000 after buying an additional 713 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $237.51 on Friday. The company's fifty day moving average is $220.85 and its two-hundred day moving average is $216.10. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The company has a market cap of $95.38 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the business earned $3.51 EPS. The company's revenue was up 13.1% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's payout ratio is 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company's stock, valued at $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a "hold" rating in a research report on Thursday, April 16th. Oppenheimer boosted their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Royal Bank Of Canada reissued an "outperform" rating and set a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Barclays boosted their target price on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.11.

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.

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