Mutual of America Capital Management LLC Sells 2,676 Shares of The PNC Financial Services Group, Inc $PNC

Mutual of America Capital Management LLC reduced its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,689 shares of the financial services provider’s stock after selling 2,676 shares during the period. Mutual of America Capital Management LLC’s holdings in The PNC Financial Services Group were worth $8,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PNC. Commerzbank Aktiengesellschaft FI grew its position in The PNC Financial Services Group by 11.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 11,758 shares of the financial services provider’s stock valued at $2,363,000 after acquiring an additional 1,213 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of The PNC Financial Services Group by 4.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 105,197 shares of the financial services provider’s stock valued at $20,877,000 after purchasing an additional 4,825 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of The PNC Financial Services Group by 3.6% in the 3rd quarter. Whittier Trust Co. now owns 228,716 shares of the financial services provider’s stock valued at $45,391,000 after purchasing an additional 8,033 shares in the last quarter. BLB&B Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 0.4% in the 3rd quarter. BLB&B Advisors LLC now owns 21,964 shares of the financial services provider’s stock worth $4,413,000 after purchasing an additional 77 shares during the last quarter. Finally, Sagespring Wealth Partners LLC increased its position in shares of The PNC Financial Services Group by 6.7% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 7,358 shares of the financial services provider’s stock worth $1,478,000 after purchasing an additional 461 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction 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. The trade was a 14.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

PNC stock opened at $223.69 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day moving average price of $208.11 and a 200 day moving average price of $198.57. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $227.78. The stock has a market capitalization of $87.72 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $3.77 EPS. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PNC. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research report on Tuesday, January 20th. Truist Financial boosted their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Finally, Oppenheimer boosted their price objective on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $231.00.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.