Brinker Capital Investments LLC Purchases 24,600 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Brinker Capital Investments LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 95.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 50,507 shares of the financial services provider’s stock after acquiring an additional 24,600 shares during the quarter. Brinker Capital Investments LLC’s holdings in The PNC Financial Services Group were worth $8,859,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Better Money Decisions LLC bought a new position in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Vantage Consulting Group Inc bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $27,000. Alpha DNA Investment Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $41,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in The PNC Financial Services Group during the 1st quarter valued at about $50,000. Institutional investors own 81.56% of the company’s stock.

NYSE PNC opened at $188.75 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $80.19 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 2.24 and a beta of 1.41. The stock’s 50 day moving average price is $187.88. The PNC Financial Services Group, Inc. has a 52 week low of $97.09 and a 52 week high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.75 by $1.35. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business posted $1.95 EPS. The PNC Financial Services Group’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.36 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Thursday, April 15th. This represents a $4.60 dividend on an annualized basis and a yield of 2.44%. The PNC Financial Services Group’s payout ratio is 72.33%.

Several research firms have issued reports on PNC. Compass Point boosted their price objective on shares of The PNC Financial Services Group from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 18th. Stephens boosted their price objective on shares of The PNC Financial Services Group from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Monday, April 19th. Argus boosted their price objective on shares of The PNC Financial Services Group from $173.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, April 19th. Credit Suisse Group boosted their price objective on shares of The PNC Financial Services Group from $170.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $179.00 to $210.00 in a research report on Tuesday, April 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $179.30.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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