The PNC Financial Services Group, Inc $PNC Shares Sold by Argent Advisors Inc.

Argent Advisors Inc. reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 79.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,089 shares of the financial services provider’s stock after selling 7,839 shares during the period. Argent Advisors Inc.’s holdings in The PNC Financial Services Group were worth $435,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Monetary Solutions Ltd acquired a new position in The PNC Financial Services Group during the 4th quarter worth $25,000. Quarry LP acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $29,000. Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the first quarter worth about $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 2.2%

The PNC Financial Services Group stock opened at $251.70 on Thursday. The company has a 50-day simple moving average of $225.99 and a 200-day simple moving average of $220.15. The firm has a market capitalization of $101.08 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.01 and a beta of 0.90. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $252.73.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on PNC. Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup upped their price target on The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer raised their price objective on The PNC Financial Services Group from $268.00 to $271.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $252.71.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 48,300 shares of company stock valued at $10,694,574. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Company 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.