Elo Mutual Pension Insurance Co Acquires 5,914 Shares of The PNC Financial Services Group, Inc $PNC

Elo Mutual Pension Insurance Co boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 45.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,960 shares of the financial services provider’s stock after acquiring an additional 5,914 shares during the period. Elo Mutual Pension Insurance Co’s holdings in The PNC Financial Services Group were worth $3,535,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. LPL Financial LLC raised its position in shares of The PNC Financial Services Group by 6.9% in the 1st quarter. LPL Financial LLC now owns 705,395 shares of the financial services provider’s stock worth $123,987,000 after acquiring an additional 45,792 shares in the last quarter. Norden Group LLC lifted its stake in shares of The PNC Financial Services Group by 13.4% in the 1st quarter. Norden Group LLC now owns 4,424 shares of the financial services provider’s stock valued at $778,000 after purchasing an additional 524 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of The PNC Financial Services Group by 9.8% during the first quarter. Foundations Investment Advisors LLC now owns 1,913 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 171 shares in the last quarter. Finally, Picton Mahoney Asset Management grew its stake in The PNC Financial Services Group by 6.7% in the first quarter. Picton Mahoney Asset Management now owns 43,944 shares of the financial services provider’s stock worth $7,724,000 after purchasing an additional 2,762 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent research reports. Citigroup raised their price objective on 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. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. UBS Group upped their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Finally, Truist Financial boosted their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $218.00.

The PNC Financial Services Group Stock Up 2.2%

PNC stock opened at $192.59 on Wednesday. The stock has a market capitalization of $75.52 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.26 and a beta of 1.12. 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 business has a fifty day moving average price of $189.29 and a 200-day moving average price of $189.22.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company earned $3.49 EPS. Equities 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

Insider Activity at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction 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 directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group 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 $1,065,073.14. The trade was a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Company 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.