The PNC Financial Services Group, Inc $PNC Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 46.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,581 shares of the financial services provider’s stock after selling 2,200 shares during the period. Twin Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the second quarter worth about $27,000. Concord Wealth Partners boosted its stake in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 100 shares during the period. Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at approximately $34,000. FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $37,000. Finally, True Wealth Design LLC raised its position in shares of The PNC Financial Services Group by 1,133.3% during the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 204 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $242.53 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $214.89 and its 200 day moving average price is $200.55. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The firm has a market cap of $95.11 billion, a P/E ratio of 14.62, a PEG ratio of 1.01 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $3.77 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. TD Cowen raised their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Oppenheimer lifted their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.00.

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.