Stevens Capital Management LP Invests $959,000 in The PNC Financial Services Group, Inc $PNC

Stevens Capital Management LP acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, Holdings Channel reports. The firm acquired 5,145 shares of the financial services provider’s stock, valued at approximately $959,000.

Several other large investors have also recently added to or reduced their stakes in PNC. Vanguard Group Inc. lifted its stake in shares of The PNC Financial Services Group by 1.4% during the second quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock worth $7,174,760,000 after purchasing an additional 521,455 shares in the last quarter. Geode Capital Management LLC boosted its holdings in The PNC Financial Services Group by 1.1% in the second quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock valued at $1,628,302,000 after purchasing an additional 93,346 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock worth $844,967,000 after purchasing an additional 24,588 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of The PNC Financial Services Group by 41.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after purchasing an additional 830,440 shares in the last quarter. Finally, Amundi boosted its stake in shares of The PNC Financial Services Group by 76.1% during the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock valued at $352,592,000 after buying an additional 944,731 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $186.85 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current 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 has a market capitalization of $73.27 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.12. The business’s fifty day moving average is $189.73 and its two-hundred day moving average is $188.53.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share 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 firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter last year, the business posted $3.49 EPS. The PNC Financial Services Group’s revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. UBS Group upped their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Raymond James Financial increased their price target on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Truist Financial upped their price target on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Finally, Evercore ISI increased their price objective 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. 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 assigned a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $218.00.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was 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 directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,151 shares of company stock worth $400,092. Corporate insiders own 0.41% of the company’s stock.

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.