Sanibel Captiva Trust Company Inc. Has $3.44 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sanibel Captiva Trust Company Inc. raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,854 shares of the financial services provider’s stock after acquiring an additional 823 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in The PNC Financial Services Group were worth $3,443,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PNC. State Street Corp raised its holdings in The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares in the last quarter. Geode Capital Management LLC lifted its position in The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares during the period. Ameriprise Financial Inc. boosted its stake in The PNC Financial Services Group by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after buying an additional 18,397 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after buying an additional 223,955 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. Citigroup lifted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday. Piper Sandler raised their target price 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. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday. Finally, Compass Point boosted 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 research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $205.00.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. 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 PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock worth $5,928,202 in the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $198.36 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $78.71 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.77 and a beta of 1.16. The firm’s 50 day moving average is $201.40 and its 200-day moving average is $187.03. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 EPS. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.