Fortem Financial Group LLC Sells 2,433 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fortem Financial Group LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,215 shares of the financial services provider’s stock after selling 2,433 shares during the period. Fortem Financial Group LLC’s holdings in The PNC Financial Services Group were worth $1,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC raised 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 acquiring an additional 110 shares during the last quarter. Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. Valley Wealth Managers Inc. raised its stake in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at about $38,000. Finally, Quarry LP raised its stake in shares of The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 170 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 0.0 %

NYSE:PNC opened at $204.46 on Wednesday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average price is $197.02 and its 200-day moving average price is $178.93. The stock has a market cap of $81.13 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.18 and a beta of 1.15.

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

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.13%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Buying and Selling

In other The PNC Financial Services Group 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 transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the transaction, the chief executive officer now owns 550,975 shares in the company, valued at $102,729,288.75. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,030 shares of company stock worth $5,873,691. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PNC shares. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Two equities research 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. According to MarketBeat.com, the stock currently has an average 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.