FourThought Financial Partners LLC Has $6.35 Million Stock Position in The PNC Financial Services Group, Inc $PNC

FourThought Financial Partners LLC boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,072 shares of the financial services provider’s stock after acquiring an additional 1,307 shares during the period. FourThought Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $6,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Avior Wealth Management LLC lifted its holdings in shares of The PNC Financial Services Group by 4.5% during 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 in the last quarter. Rockland Trust Co. raised its holdings in The PNC Financial Services Group by 0.5% during the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock worth $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% in the second quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after buying an additional 55 shares in the last quarter. Winthrop Capital Management LLC lifted its stake in The PNC Financial Services Group by 2.1% in the second quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock valued at $488,000 after buying an additional 55 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings 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 buying an additional 56 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

PNC opened at $188.95 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The business has a 50 day moving average of $189.46 and a 200-day moving average of $189.04. The stock has a market cap of $74.10 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the prior year, the business earned $3.49 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PNC shares. Oppenheimer reduced their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.00.

Insider Activity

In related 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 transaction of $183,570.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the business’s 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 sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,151 shares of company stock worth $400,092 over the last 90 days. 0.41% of the stock is currently 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.