Cambient Family Office LLC Acquires Shares of 2,605 The PNC Financial Services Group, Inc $PNC

Cambient Family Office LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the fourth quarter, HoldingsChannel.com reports. The firm bought 2,605 shares of the financial services provider’s stock, valued at approximately $544,000.

A number of other hedge funds also recently modified their holdings of PNC. US Bancorp DE lifted its holdings in shares of The PNC Financial Services Group by 13.4% during the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after purchasing an additional 34,009 shares during the period. Truist Financial Corp grew its position in shares of The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after buying an additional 39,589 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 408,464 shares during the period. Teamwork Financial Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $13,711,000. Finally, Stoneridge Investment Partners LLC grew its holdings in The PNC Financial Services Group by 59.1% during the 4th quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock worth $4,953,000 after acquiring an additional 8,818 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. Barclays lifted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Finally, Citigroup upped their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $246.72.

Insider Activity

In related news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $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. In the last three months, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $232.39 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a 1-year low of $176.16 and a 1-year high of $243.94. The company has a 50 day simple moving average of $222.68 and a two-hundred day simple moving average of $217.55. The firm has a market cap of $93.32 billion, a P/E ratio of 13.50, a PEG ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $3.51 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

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.