Vaughan David Investments LLC IL Has $10.50 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Vaughan David Investments LLC IL lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,320 shares of the financial services provider’s stock after selling 2,900 shares during the period. Vaughan David Investments LLC IL’s holdings in The PNC Financial Services Group were worth $10,503,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Modus Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $29,000. Beacon Financial Strategies CORP acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $35,000. Cornerstone Planning Group LLC lifted its position in The PNC Financial Services Group by 2,100.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after buying an additional 168 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $234.12 on Friday. The stock has a market capitalization of $94.02 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.96 and a beta of 0.92. The PNC Financial Services Group, Inc has a 1-year low of $172.73 and a 1-year high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $220.29 and a two-hundred day moving average price of $215.95.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.51 EPS. Equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNC. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. upped their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

Insider Activity

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

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.