The PNC Financial Services Group, Inc $PNC Shares Sold by Yousif Capital Management LLC

by · The Markets Daily

Yousif Capital Management LLC lowered its position in The PNC Financial Services Group, Inc (NYSE:PNCFree Report) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,454 shares of the financial services provider’s stock after selling 3,328 shares during the quarter. Yousif Capital Management LLC’s holdings in The PNC Financial Services Group were worth $10,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PNC. Saudi Central Bank purchased a new stake in The PNC Financial Services Group in the 1st quarter valued at $27,000. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the second quarter valued at $27,000. Concord Wealth Partners increased its stake in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. WPG Advisers LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth about $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Truist Financial upped their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Morgan Stanley increased their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Finally, UBS Group lifted their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $219.11.

Read Our Latest Stock Analysis on PNC

The PNC Financial Services Group Stock Down 0.5%

PNC opened at $211.81 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $213.98. The stock has a market capitalization of $83.06 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.20 and a beta of 1.01. The business has a 50 day simple moving average of $191.21 and a 200-day simple moving average of $193.06.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.49 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

About The PNC Financial Services Group

(Free Report)

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.

See Also

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