Shelton Capital Management Cuts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Shelton Capital Management lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,291 shares of the financial services provider’s stock after selling 123 shares during the period. Shelton Capital Management’s holdings in The PNC Financial Services Group were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC boosted its holdings in The PNC Financial Services Group by 152.6% during the third quarter. Evolution Wealth Advisors LLC now owns 240 shares of the financial services provider’s stock worth $26,000 after buying an additional 145 shares in the last quarter. Rosenberg Matthew Hamilton purchased a new stake in The PNC Financial Services Group during the second quarter worth about $28,000. Trustcore Financial Services LLC boosted its holdings in The PNC Financial Services Group by 79.1% during the second quarter. Trustcore Financial Services LLC now owns 274 shares of the financial services provider’s stock worth $29,000 after buying an additional 121 shares in the last quarter. MV Capital Management Inc. boosted its holdings in The PNC Financial Services Group by 104.0% during the second quarter. MV Capital Management Inc. now owns 306 shares of the financial services provider’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its holdings in The PNC Financial Services Group by 575.0% during the third quarter. Ropes Wealth Advisors LLC now owns 324 shares of the financial services provider’s stock worth $36,000 after buying an additional 276 shares in the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PNC opened at $128.90 on Friday. The firm has a 50 day simple moving average of $115.85 and a 200-day simple moving average of $109.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $54.62 billion, a PE ratio of 7.71, a P/E/G ratio of 3.17 and a beta of 1.24. The PNC Financial Services Group, Inc. has a 1-year low of $79.41 and a 1-year high of $161.79.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Monday, October 19th. The financial services provider reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.27. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. The PNC Financial Services Group had a net margin of 38.16% and a return on equity of 5.97%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.94 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 5.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Friday, October 16th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.57%. The ex-dividend date was Thursday, October 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.39%.

A number of research firms recently commented on PNC. Credit Suisse Group boosted their price objective on shares of The PNC Financial Services Group from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 15th. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, September 11th. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 17th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $109.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $124.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $125.63.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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