Nordwand Advisors LLC Acquires New Holdings in The PNC Financial Services Group, Inc $PNC

Nordwand Advisors LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,589 shares of the financial services provider’s stock, valued at approximately $1,415,000.

Other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC increased its holdings in The PNC Financial Services Group by 4.5% in the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 52 shares during the last quarter. Rockland Trust Co. raised its holdings in shares of The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after buying an additional 53 shares during the period. Almanack Investment Partners LLC. lifted its stake in The PNC Financial Services Group by 2.3% during the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 55 shares in the last quarter. Winthrop Capital Management LLC boosted its holdings in The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 55 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of The PNC Financial Services Group by 15.0% in the second quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 56 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 2.8%

NYSE:PNC opened at $178.91 on Tuesday. The firm has a market capitalization of $70.16 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The business’s 50-day moving average is $191.20 and its two-hundred day moving average is $188.35. 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 quarterly earnings data 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 company had revenue of $5.92 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.49 EPS. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.8%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PNC. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. Finally, Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.47.

Insiders Place Their Bets

In other news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s 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 transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $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. Insiders have sold 2,151 shares of company stock worth $400,092 over the last three months. 0.41% of the stock is owned by corporate insiders.

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 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.