The PNC Financial Services Group, Inc $PNC Shares Sold by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC trimmed its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 61.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,628 shares of the financial services provider’s stock after selling 2,598 shares during the period. AssuredPartners Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Saudi Central Bank acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth $27,000. Concord Wealth Partners boosted its position in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares during the last quarter. WPG Advisers LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at about $36,000. Finally, Fourth Dimension Wealth LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at about $41,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.5%

The PNC Financial Services Group stock opened at $179.30 on Friday. The company has a 50 day moving average price of $198.10 and a 200 day moving average price of $183.81. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market capitalization of $70.61 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.24 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the business posted $3.49 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be given a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio is presently 46.51%.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Citigroup raised their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. UBS Group raised their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.47.

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.