IMG Wealth Management Inc. Invests $27,000 in The PNC Financial Services Group, Inc $PNC

IMG Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, HoldingsChannel reports. The firm acquired 144 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jackson Thornton Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $449,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of The PNC Financial Services Group by 3.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 100,372 shares of the financial services provider’s stock worth $18,711,000 after purchasing an additional 3,215 shares in the last quarter. Whittier Trust Co. raised its stake in shares of The PNC Financial Services Group by 8.0% during the 2nd quarter. Whittier Trust Co. now owns 220,683 shares of the financial services provider’s stock worth $41,139,000 after purchasing an additional 16,365 shares in the last quarter. apricus wealth LLC raised its stake in shares of The PNC Financial Services Group by 1.3% during the 2nd quarter. apricus wealth LLC now owns 13,370 shares of the financial services provider’s stock worth $2,492,000 after purchasing an additional 173 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its stake in shares of The PNC Financial Services Group by 31.8% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 850 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.6%

PNC stock opened at $182.26 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $71.78 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.25 and a beta of 1.10. The business’s fifty day moving average price is $197.97 and its two-hundred day moving average price is $184.22. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

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

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PNC shares. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. UBS Group increased their price target on 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. Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Truist Financial increased their price target on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, September 24th. Finally, Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.47.

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.