LVM Capital Management Ltd. MI Sells 412 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LVM Capital Management Ltd. MI reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,267 shares of the financial services provider’s stock after selling 412 shares during the period. LVM Capital Management Ltd. MI’s holdings in The PNC Financial Services Group were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. grew its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group in the second quarter valued at $33,000. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at $51,000. Quarry LP lifted its position in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $190.27, for a total transaction of $236,315.34. Following the transaction, the chief executive officer now directly owns 544,765 shares in the company, valued at $103,652,436.55. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock valued at $5,925,333 over the last 90 days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded down $4.48 during mid-day trading on Friday, reaching $190.20. The company had a trading volume of 1,078,615 shares, compared to its average volume of 1,853,068. The firm has a market cap of $75.47 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.11 and a beta of 1.16. The business’s 50-day simple moving average is $201.43 and its 200 day simple moving average is $185.29. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.36%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Wall Street Analyst Weigh In

PNC has been the topic of several analyst reports. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial started coverage on shares of The PNC Financial Services Group in a report on Tuesday. They set a “hold” rating and a $215.00 target price on the stock. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.29.

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 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.