Bard Financial Services Inc. Sells 500 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bard Financial Services Inc. trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,650 shares of the financial services provider’s stock after selling 500 shares during the quarter. Bard Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PNC. Diversified Trust Co grew its stake in The PNC Financial Services Group by 27.6% during the second quarter. Diversified Trust Co now owns 3,665 shares of the financial services provider’s stock worth $570,000 after buying an additional 793 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of The PNC Financial Services Group by 6.6% during the second quarter. Great Valley Advisor Group Inc. now owns 7,759 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 483 shares during the last quarter. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at approximately $38,000. Finally, PGGM Investments grew its stake in shares of The PNC Financial Services Group by 111.2% during the second quarter. PGGM Investments now owns 6,673 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 3,514 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,030 shares of company stock valued at $5,873,691. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $203.26 on Thursday. The firm has a 50 day moving average of $197.51 and a 200-day moving average of $179.28. The stock has a market capitalization of $80.65 billion, a PE ratio of 17.18, a PEG ratio of 2.18 and a beta of 1.15. 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 PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

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, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Analysts Set New Price Targets

Several analysts have recently commented on PNC shares. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI increased 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 report on Wednesday, October 16th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $198.02.

The PNC Financial Services Group 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.