Trust Co. of Vermont Buys Shares of 3,615 The PNC Financial Services Group, Inc $PNC

Trust Co. of Vermont purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,615 shares of the financial services provider’s stock, valued at approximately $890,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp raised its holdings in The PNC Financial Services Group by 3.3% during the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock worth $259,344,000 after acquiring an additional 39,589 shares in the last quarter. Vanguard Group Inc. grew its stake in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares in the last quarter. Stoneridge Investment Partners LLC grew its stake in The PNC Financial Services Group by 59.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after purchasing an additional 8,818 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $35,124,000. Finally, Empire Life Investments Inc. raised its stake in shares of The PNC Financial Services Group by 8.7% during the 4th quarter. Empire Life Investments Inc. now owns 217,119 shares of the financial services provider’s stock worth $45,319,000 after purchasing an additional 17,418 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,654 shares of company stock worth $11,552,661 over the last three months. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0%

Shares of PNC opened at $254.43 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $258.96. The firm’s 50 day moving average is $247.74 and its 200-day moving average is $228.96. The stock has a market capitalization of $101.50 billion, a PE ratio of 14.00, a P/E/G ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.85 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were issued a dividend of $2.00 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is currently 44.03%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PNC shares. Deutsche Bank Aktiengesellschaft downgraded The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a report on Thursday, July 23rd. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Royal Bank Of Canada increased their price target on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, UBS Group boosted their price objective on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Profile

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.