Machina Capital S.A.S. Sells 2,366 Shares of The PNC Financial Services Group, Inc $PNC

Machina Capital S.A.S. trimmed its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 26,551 shares of the financial services provider’s stock after selling 2,366 shares during the quarter. The PNC Financial Services Group comprises approximately 1.0% of Machina Capital S.A.S.’s portfolio, making the stock its 11th biggest position. Machina Capital S.A.S.’s holdings in The PNC Financial Services Group were worth $4,950,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. IMG Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $27,000. Saudi Central Bank purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $27,000. Concord Wealth Partners lifted its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $37,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. Bank of America lifted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Raymond James Financial boosted their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $182.66 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The stock’s 50 day simple moving average is $195.95 and its two-hundred day simple moving average is $186.29. The company has a market cap of $71.93 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.26 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the company posted $3.49 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the business’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 transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was 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. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company 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.