Ambassador Advisors LLC Has $339,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Posted by Defense World Staff on Mar 16th, 2023

Ambassador Advisors LLC reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,273 shares of the financial services provider’s stock after selling 407 shares during the period. Ambassador Advisors LLC’s holdings in The PNC Financial Services Group were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PNC. Tower Research Capital LLC TRC lifted its stake in shares of The PNC Financial Services Group by 138.3% during the third quarter. Tower Research Capital LLC TRC now owns 38,671 shares of the financial services provider’s stock valued at $5,778,000 after acquiring an additional 22,440 shares during the period. Ieq Capital LLC increased its holdings in The PNC Financial Services Group by 49.7% in the third quarter. Ieq Capital LLC now owns 11,914 shares of the financial services provider’s stock valued at $1,780,000 after purchasing an additional 3,954 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in shares of The PNC Financial Services Group by 54.5% in the third quarter. Meiji Yasuda Life Insurance Co now owns 4,376 shares of the financial services provider’s stock worth $654,000 after acquiring an additional 1,544 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of The PNC Financial Services Group by 24.4% in the second quarter. Captrust Financial Advisors now owns 76,130 shares of the financial services provider’s stock worth $12,011,000 after acquiring an additional 14,940 shares in the last quarter. Finally, Bill Few Associates Inc. increased its holdings in shares of The PNC Financial Services Group by 80.1% in the third quarter. Bill Few Associates Inc. now owns 7,814 shares of the financial services provider’s stock worth $1,167,000 after acquiring an additional 3,476 shares in the last quarter. 82.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William S. Demchak acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was purchased at an average cost of $129.70 per share, with a total value of $129,700.00. Following the acquisition, the chief executive officer now owns 525,349 shares of the company’s stock, valued at approximately $68,137,765.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, CEO William S. Demchak bought 1,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $129.70 per share, for a total transaction of $129,700.00. Following the purchase, the chief executive officer now directly owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak bought 6,550 shares of the business’s stock in a transaction dated Friday, January 20th. The stock was acquired at an average price of $153.38 per share, for a total transaction of $1,004,639.00. Following the purchase, the chief executive officer now directly owns 482,924 shares in the company, valued at $74,070,883.12. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PNC shares. Odeon Capital Group upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 price objective for the company in a report on Tuesday, January 10th. Credit Suisse Group cut their price objective on The PNC Financial Services Group from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, January 19th. Robert W. Baird cut their price objective on The PNC Financial Services Group from $210.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, January 19th. Barclays cut their price objective on The PNC Financial Services Group from $222.00 to $218.00 and set an “overweight” rating for the company in a research report on Tuesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the company from $200.00 to $190.00 in a research report on Friday, January 6th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.36.

The PNC Financial Services Group Stock Down 4.2 %

Shares of NYSE:PNC opened at $125.05 on Thursday. The PNC Financial Services Group, Inc. has a 1 year low of $122.72 and a 1 year high of $199.43. The company has a market capitalization of $49.98 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 2.02 and a beta of 1.16. The business’s 50-day moving average is $156.60 and its 200-day moving average is $157.36. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.79 and a quick ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The PNC Financial Services Group had a net margin of 25.73% and a return on equity of 12.88%. The firm had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm earned $2.86 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 14.66 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Shareholders of record on Tuesday, January 17th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Friday, January 13th. The PNC Financial Services Group’s dividend payout ratio is currently 43.26%.

The PNC Financial Services Group Profile

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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

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