11,467 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,467 shares of the financial services provider’s stock, valued at approximately $2,120,000. The PNC Financial Services Group makes up about 2.0% of Safe Harbor Fiduciary LLC’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC raised its holdings in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. Valley Wealth Managers Inc. raised its holdings in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $33,000. GPS Wealth Strategies Group LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $38,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group during the third quarter valued at approximately $51,000. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the transaction, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at $101,007,941.42. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,788 shares of company stock worth $5,613,814 in the last ninety days. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays boosted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $193.96.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $207.91 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $82.49 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.19 and a beta of 1.15. The company’s fifty day moving average is $195.60 and its two-hundred day moving average is $177.70. The PNC Financial Services Group, Inc. has a 52-week low of $138.46 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.08%. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

The PNC Financial Services Group Company Profile

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.