Gamco Investors INC. ET AL Has $20.65 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Gamco Investors INC. ET AL reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,231 shares of the financial services provider’s stock after selling 2,022 shares during the quarter. Gamco Investors INC. ET AL’s holdings in The PNC Financial Services Group were worth $20,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its position in shares of The PNC Financial Services Group by 1.0% during the 2nd quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock worth $2,157,151,000 after buying an additional 170,387 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in The PNC Financial Services Group by 7.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares in the last quarter. Capital International Investors increased its holdings in The PNC Financial Services Group by 615.1% in the 2nd quarter. Capital International Investors now owns 8,623,735 shares of the financial services provider’s stock worth $1,086,142,000 after purchasing an additional 7,417,830 shares in the last quarter. Geode Capital Management LLC increased its holdings in The PNC Financial Services Group by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,369,554 shares of the financial services provider’s stock worth $925,399,000 after purchasing an additional 150,470 shares in the last quarter. Finally, Morgan Stanley increased its holdings in The PNC Financial Services Group by 28.7% in the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 1.6 %

Shares of NYSE:PNC opened at $145.83 on Tuesday. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $164.70. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50 day simple moving average is $148.70 and its two-hundred day simple moving average is $132.11. The firm has a market cap of $58.09 billion, a P/E ratio of 11.40, a PEG ratio of 1.72 and a beta of 1.19.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $1.04. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The PNC Financial Services Group’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the business posted $3.49 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.29 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s payout ratio is 48.48%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,533 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $132.51, for a total transaction of $203,137.83. Following the completion of the sale, the executive vice president now directly owns 17,092 shares of the company’s stock, valued at $2,264,860.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler upped their target price on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, December 8th. Stephens reissued an “equal weight” rating and issued a $138.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, October 24th. Bank of America raised The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the company a “neutral” rating in a research note on Tuesday, December 19th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $146.59.

Get Our Latest Report on The PNC Financial Services Group

The PNC Financial Services Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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