Woodstock Corp Has $3.66 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Woodstock Corp lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the first quarter, HoldingsChannel.com reports. The firm owned 20,855 shares of the financial services provider’s stock after acquiring an additional 74 shares during the period. Woodstock Corp’s holdings in The PNC Financial Services Group were worth $3,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Alliance raised its stake in The PNC Financial Services Group by 3.4% during the third quarter. Wealth Alliance now owns 5,874 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 194 shares in the last quarter. Eudaimonia Partners LLC raised its stake in The PNC Financial Services Group by 12.3% during the third quarter. Eudaimonia Partners LLC now owns 1,131 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 124 shares in the last quarter. First City Capital Management Inc. raised its stake in The PNC Financial Services Group by 31.5% during the third quarter. First City Capital Management Inc. now owns 5,027 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 1,205 shares in the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new position in The PNC Financial Services Group during the third quarter worth $218,000. Finally, Lombard Odier Asset Management Europe Ltd acquired a new position in The PNC Financial Services Group during the third quarter worth $439,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Several research analysts have issued reports on PNC shares. Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Monday, March 8th. Barclays increased their target price on The PNC Financial Services Group from $171.00 to $182.00 and gave the stock an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $150.00 to $167.00 and gave the stock a “market perform” rating in a report on Monday, January 18th. Credit Suisse Group increased their target price on The PNC Financial Services Group from $120.00 to $147.00 and gave the stock a “neutral” rating in a report on Friday, December 11th. Finally, Piper Sandler cut The PNC Financial Services Group from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $162.00 to $167.00 in a report on Wednesday, January 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $156.29.

PNC traded down $1.98 during midday trading on Thursday, reaching $176.27. 11,066 shares of the company were exchanged, compared to its average volume of 2,018,321. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 0.88. The PNC Financial Services Group, Inc. has a one year low of $89.13 and a one year high of $184.33. The stock has a market capitalization of $74.74 billion, a P/E ratio of 10.67, a PEG ratio of 3.33 and a beta of 1.38. The stock’s 50-day simple moving average is $175.00 and its 200 day simple moving average is $144.72.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 14th. The financial services provider reported $3.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $0.61. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business earned $2.97 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 6.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, April 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.39%.

In other news, EVP Karen L. Larrimer sold 3,205 shares of the firm’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $156.92, for a total transaction of $502,928.60. Following the sale, the executive vice president now owns 24,580 shares of the company’s stock, valued at $3,857,093.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Guild Deborah sold 3,840 shares of the firm’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $151.37, for a total value of $581,260.80. Following the sale, the executive vice president now directly owns 18,804 shares in the company, valued at approximately $2,846,361.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,295 shares of company stock worth $1,128,071. Company insiders own 0.30% of the company’s stock.

About The PNC Financial Services Group

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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