Vinva Investment Management Ltd Has $7.90 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Vinva Investment Management Ltd lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 246.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,509 shares of the financial services provider’s stock after purchasing an additional 30,256 shares during the period. Vinva Investment Management Ltd’s holdings in The PNC Financial Services Group were worth $7,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PNC. Safe Harbor Fiduciary LLC increased its position in The PNC Financial Services Group by 2.5% in the 2nd quarter. Safe Harbor Fiduciary LLC now owns 11,520 shares of the financial services provider’s stock valued at $2,148,000 after acquiring an additional 278 shares during the period. Inceptionr LLC bought a new stake in shares of The PNC Financial Services Group in the second quarter worth $209,000. FourThought Financial Partners LLC increased its holdings in The PNC Financial Services Group by 4.0% in the second quarter. FourThought Financial Partners LLC now owns 34,072 shares of the financial services provider’s stock valued at $6,352,000 after purchasing an additional 1,307 shares during the period. Elo Mutual Pension Insurance Co raised its position in The PNC Financial Services Group by 45.3% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,960 shares of the financial services provider’s stock worth $3,535,000 after purchasing an additional 5,914 shares during the last quarter. Finally, Columbia Bank lifted its holdings in The PNC Financial Services Group by 6.3% during the 2nd quarter. Columbia Bank now owns 13,572 shares of the financial services provider’s stock worth $2,687,000 after buying an additional 802 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PNC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Citigroup increased their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Finally, Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $218.00.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were 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 owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Down 0.3%

NYSE:PNC opened at $191.96 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $75.28 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.26 and a beta of 1.12. The firm has a fifty day simple moving average of $188.77 and a two-hundred day simple moving average of $189.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 earnings per share. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

The PNC Financial Services Group 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.