Pacer Advisors Inc. Has $7.92 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Pacer Advisors Inc. reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,960 shares of the financial services provider’s stock after selling 3,310 shares during the quarter. Pacer Advisors Inc.’s holdings in The PNC Financial Services Group were worth $7,923,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cvfg LLC increased its holdings in shares of The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 43 shares in the last quarter. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 46 shares in the last quarter. Westfuller Advisors LLC grew its position in The PNC Financial Services Group by 26.9% in the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 46 shares during the period. Atom Investors LP grew its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 46 shares during the period. Finally, Flavin Financial Services Inc. increased its stake in The PNC Financial Services Group by 0.4% during the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $232.39 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $176.16 and a fifty-two week high of $243.94. The firm has a 50-day moving average of $222.68 and a 200 day moving average of $217.72. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. 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 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for 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 for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.51 earnings per share. On average, research analysts expect that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on PNC. Stephens assumed coverage on shares of The PNC Financial Services Group in a report on Monday, June 15th. They set an “overweight” rating and a $265.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Truist Financial upped their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the 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 transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

About The PNC Financial Services Group

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.