The PNC Financial Services Group, Inc $PNC Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 26,008 shares of the financial services provider’s stock after selling 2,633 shares during the period. Confluence Wealth Services Inc.’s holdings in The PNC Financial Services Group were worth $5,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PNC. Moneco Advisors LLC grew its holdings in The PNC Financial Services Group by 28.9% in the third quarter. Moneco Advisors LLC now owns 15,752 shares of the financial services provider’s stock valued at $3,501,000 after purchasing an additional 3,531 shares during the last quarter. Keybank National Association OH increased its position in shares of The PNC Financial Services Group by 1.1% in the third quarter. Keybank National Association OH now owns 67,046 shares of the financial services provider’s stock valued at $14,902,000 after buying an additional 719 shares in the last quarter. Csenge Advisory Group raised its stake in shares of The PNC Financial Services Group by 93.9% during the 3rd quarter. Csenge Advisory Group now owns 1,889 shares of the financial services provider’s stock worth $420,000 after buying an additional 915 shares during the last quarter. Gen Wealth Partners Inc raised its stake in shares of The PNC Financial Services Group by 70.6% during the 3rd quarter. Gen Wealth Partners Inc now owns 1,083 shares of the financial services provider’s stock worth $241,000 after buying an additional 448 shares during the last quarter. Finally, 71 West Capital Partners raised its stake in shares of The PNC Financial Services Group by 5.3% during the 3rd quarter. 71 West Capital Partners now owns 4,554 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was 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 in the company, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of several recent research reports. Robert W. Baird boosted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Truist Financial dropped their target price on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from $230.00 to $265.00 in a research report on Thursday, July 23rd. TD Cowen cut their target price on shares of The PNC Financial Services Group from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, October 16th. Finally, HSBC upped their price target on shares of The PNC Financial Services Group from $275.00 to $283.00 and gave the company a “buy” rating in a report on Monday, September 28th. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.04.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $231.06 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a fifty day moving average of $228.20 and a two-hundred day moving average of $229.27. The company has a market capitalization of $91.68 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.20 and a beta of 0.92. The PNC Financial Services Group, Inc has a fifty-two week low of $177.08 and a fifty-two week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the previous year, the firm posted $4.35 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Investors of record on Wednesday, October 14th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.