The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,908 shares of the financial services provider's stock after purchasing an additional 3,595 shares during the quarter. Sanctuary Advisors LLC's holdings in The PNC Financial Services Group were worth $18,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co raised its holdings in The PNC Financial Services Group by 27.6% in the 2nd quarter. Diversified Trust Co now owns 3,665 shares of the financial services provider's stock valued at $570,000 after buying an additional 793 shares during the period. ORG Partners LLC lifted 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 acquiring an additional 110 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $38,000. Assenagon Asset Management S.A. increased its holdings in The PNC Financial Services Group by 448.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 269,206 shares of the financial services provider's stock valued at $41,856,000 after purchasing an additional 220,110 shares during the last quarter. Finally, Blue Trust Inc. raised its position in The PNC Financial Services Group by 73.6% in the second quarter. Blue Trust Inc. now owns 3,586 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 1,520 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent research reports. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Barclays increased their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $198.02.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares of the company's stock, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company's stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % 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 worth $5,873,691 in the last three months. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $1.62 during midday trading on Friday, hitting $200.69. 588,829 shares of the company's stock were exchanged, compared to its average volume of 1,861,118. The firm's 50 day simple moving average is $198.46 and its 200 day simple moving average is $179.61. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month 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 stock has a market cap of $79.63 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15.

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

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is presently 54.10%.

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.