Voya Investment Management LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc $PNC

Voya Investment Management LLC increased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 906,176 shares of the financial services provider’s stock after acquiring an additional 134,079 shares during the period. Voya Investment Management LLC owned approximately 0.23% of The PNC Financial Services Group worth $181,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of The PNC Financial Services Group by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock valued at $7,174,760,000 after buying an additional 521,455 shares during the period. Geode Capital Management LLC raised 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 acquiring an additional 93,346 shares in the last quarter. Norges Bank purchased a new position in The PNC Financial Services Group in the second quarter worth approximately $1,477,836,000. Invesco Ltd. lifted its stake in The PNC Financial Services Group by 0.5% in the second quarter. Invesco Ltd. now owns 5,023,790 shares of the financial services provider’s stock worth $936,535,000 after acquiring an additional 26,798 shares during the last quarter. Finally, Ameriprise Financial Inc. grew 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 acquiring an additional 24,588 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $209.54 on Friday. The stock’s 50-day moving average is $189.72 and its two-hundred day moving average is $192.08. The company has a debt-to-equity ratio of 0.99, 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 $213.03. The firm has a market cap of $82.17 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.18 and a beta of 1.01.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Guild Deborah sold 1,080 shares of the company’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 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Citigroup lifted their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Raymond James Financial increased their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Evercore ISI raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.11.

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.