Constant Guidance Financial LLC Sells 5,788 Shares of The PNC Financial Services Group, Inc $PNC

Constant Guidance Financial LLC cut its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 25.4% in the third quarter, HoldingsChannel reports. The firm owned 16,960 shares of the financial services provider’s stock after selling 5,788 shares during the quarter. The PNC Financial Services Group makes up about 2.6% of Constant Guidance Financial LLC’s investment portfolio, making the stock its 9th biggest position. Constant Guidance Financial LLC’s holdings in The PNC Financial Services Group were worth $3,408,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $34,000. Bayforest Capital Ltd raised its holdings in The PNC Financial Services Group by 237.1% in the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares in the last quarter. True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 204 shares during the last quarter. Country Trust Bank grew its holdings in The PNC Financial Services Group by 38.9% during the 3rd quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 68 shares in the last quarter. Finally, Corundum Trust Company INC purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the sale, the executive vice president owned 21,120 shares in the company, valued at approximately $4,940,179.20. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the transaction, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. This trade represents a 79.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,186 shares of company stock worth $3,296,973 in the last 90 days. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 1.1%

The PNC Financial Services Group stock opened at $232.95 on Monday. The company has a market capitalization of $91.35 billion, a P/E ratio of 14.04, a PEG ratio of 0.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The stock has a 50-day simple moving average of $221.41 and a 200-day simple moving average of $203.50.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same quarter last year, the business posted $3.77 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Royal Bank Of Canada lifted their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. TD Cowen increased their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Finally, Truist Financial upped their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $234.44.

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.