Gables Capital Management Inc. Acquires 2,000 Shares of The PNC Financial Services Group, Inc $PNC

Gables Capital Management Inc. increased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 732.6% in the first quarter, HoldingsChannel.com reports. The fund owned 2,273 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the period. Gables Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $473,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in The PNC Financial Services Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares in the last quarter. State Street Corp boosted its stake in shares of The PNC Financial Services Group by 0.4% during the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock valued at $3,615,085,000 after purchasing an additional 77,302 shares in the last quarter. Capital International Investors boosted its stake in shares of The PNC Financial Services Group by 10.2% during the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after purchasing an additional 1,101,055 shares in the last quarter. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $1,967,080,000. Finally, Geode Capital Management LLC increased its position in shares of The PNC Financial Services Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after buying an additional 30,078 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.4%

PNC traded up $1.07 during midday trading on Friday, reaching $251.99. The company’s stock had a trading volume of 2,892,810 shares, compared to its average volume of 2,235,505. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $256.00. The stock’s 50-day moving average is $229.90 and its 200-day moving average is $222.05. The firm has a market capitalization of $101.19 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.03 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the business earned $3.51 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 18.83 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Analyst Ratings Changes

PNC has been the topic of several research reports. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Morgan Stanley raised their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Oppenheimer lifted their price target on The PNC Financial Services Group from $268.00 to $271.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Truist Financial upped their price target on The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, Stephens began coverage on The PNC Financial Services Group in a research report on Monday, June 15th. They set an “overweight” rating and a $265.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $258.09.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.