Modera Wealth Management LLC Sells 417 Shares of The PNC Financial Services Group, Inc $PNC

Modera Wealth Management LLC cut its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,080 shares of the financial services provider’s stock after selling 417 shares during the quarter. Modera Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $28,910,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Soltis Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 40.0% in the second quarter. Soltis Investment Advisors LLC now owns 1,752 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 501 shares in the last quarter. Washington Trust Bank lifted its holdings in shares of The PNC Financial Services Group by 15.6% during the 2nd quarter. Washington Trust Bank now owns 99,349 shares of the financial services provider’s stock valued at $18,521,000 after purchasing an additional 13,435 shares during the last quarter. Andra AP fonden boosted its position in shares of The PNC Financial Services Group by 17.9% in the 2nd quarter. Andra AP fonden now owns 42,800 shares of the financial services provider’s stock worth $7,979,000 after purchasing an additional 6,500 shares in the last quarter. Horan Securities Inc. grew its stake in The PNC Financial Services Group by 6.2% during the 2nd quarter. Horan Securities Inc. now owns 1,290 shares of the financial services provider’s stock worth $240,000 after buying an additional 75 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its stake in The PNC Financial Services Group by 5.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 138,939 shares of the financial services provider’s stock valued at $25,887,000 after buying an additional 6,856 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value 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. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $183.08 on Friday. The firm has a fifty day moving average price of $194.27 and a 200 day moving average price of $186.67. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market cap of $72.10 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.26 and a beta of 1.12. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81.

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

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Truist Financial boosted their price target on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Oppenheimer reissued an “outperform” rating and issued a $240.00 price objective (up from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Bank of America increased their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Raymond James Financial upped their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

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.