The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,709 shares of the financial services provider’s stock after selling 25,671 shares during the period. Russell Investments Group Ltd. owned 0.05% of The PNC Financial Services Group worth $26,527,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $25,000. Centerpoint Advisors LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at about $26,000. Fiduciary Alliance LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at about $27,000. Roffman Miller Associates Inc. PA bought a new position in The PNC Financial Services Group in the 2nd quarter worth about $30,000. Finally, Chilton Capital Management LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $33,000. 80.14% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Up 0.1 %

NYSE:PNC opened at $130.34 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $170.27. The firm has a market capitalization of $51.92 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. The stock has a fifty day simple moving average of $120.50 and a 200 day simple moving average of $123.00.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, topping the consensus estimate of $3.10 by $0.50. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.32 billion. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The PNC Financial Services Group’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.78 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 43.03%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. Stephens cut their target price on The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Monday, October 16th. Piper Sandler increased their target price on shares of The PNC Financial Services Group from $130.00 to $131.00 and gave the company a “neutral” rating in a research report on Friday, September 15th. StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. HSBC began coverage on shares of The PNC Financial Services Group in a report on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $150.99.

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 certificates of 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.