Cullen Capital Management LLC Grows Position in The PNC Financial Services Group, Inc $PNC

Cullen Capital Management LLC grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.8% during the 2nd quarter, Holdings Channel reports. The fund owned 204,875 shares of the financial services provider’s stock after acquiring an additional 7,478 shares during the period. Cullen Capital Management LLC’s holdings in The PNC Financial Services Group were worth $38,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted 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 in the last quarter. Rockland Trust Co. grew its holdings in shares of The PNC Financial Services Group by 0.5% during the second 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 in the last quarter. Almanack Investment Partners LLC. raised its position in shares of 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 during the last quarter. Winthrop Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 2.1% during 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 during the period. Finally, SCS Capital Management LLC boosted its position in The PNC Financial Services Group by 0.6% during the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PNC shares. Raymond James Financial boosted their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Truist Financial lifted their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Oppenheimer reduced their target price on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Finally, Citigroup increased their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.17.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $210.61 on Monday. The company has a market cap of $82.59 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $213.03. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $188.31 and its 200-day moving average is $191.32.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the company earned $3.49 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was 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 of the company’s stock, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value 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. The trade was a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company Profile

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.