Universal Beteiligungs und Servicegesellschaft mbH Increases Stake in The PNC Financial Services Group, Inc $PNC

Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 13.1% in the second quarter, Holdings Channel.com reports. The firm owned 294,232 shares of the financial services provider’s stock after purchasing an additional 33,981 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in The PNC Financial Services Group were worth $54,851,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ignite Planners LLC increased its stake in The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 126 shares during the period. HB Wealth Management LLC boosted its position in The PNC Financial Services Group by 18.8% in the 1st quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock valued at $8,988,000 after buying an additional 8,077 shares during the period. Focus Partners Advisor Solutions LLC increased its position in shares of The PNC Financial Services Group by 28.1% during the first quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock worth $5,159,000 after acquiring an additional 6,430 shares during the period. Brookwood Investment Group LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter worth approximately $343,000. Finally, National Bank of Canada FI raised its stake in shares of The PNC Financial Services Group by 157.1% during the first quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock valued at $152,726,000 after acquiring an additional 530,873 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PNC shares. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 target price (up from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Evercore ISI boosted their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, Citigroup increased their price objective 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. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Stock Performance

PNC traded down $0.58 on Monday, reaching $183.42. The stock had a trading volume of 140,693 shares, compared to its average volume of 2,187,627. The company has a market cap of $71.93 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. 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 business’s 50-day moving average price is $191.69 and its two-hundred day moving average price is $188.23.

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

The PNC Financial Services Group Dividend Announcement

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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is 43.93%.

About The PNC Financial Services Group

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.