Soltis Investment Advisors LLC Buys 501 Shares of The PNC Financial Services Group, Inc $PNC

Soltis Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 40.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,752 shares of the financial services provider’s stock after purchasing an additional 501 shares during the quarter. Soltis Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Saudi Central Bank acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $27,000. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $27,000. Concord Wealth Partners raised its position in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 65 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $36,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,151 shares of company stock worth $400,092 over the last ninety days. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PNC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Bank of America upped their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Raymond James Financial boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Finally, Morgan Stanley increased their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Trading Up 0.6%

NYSE:PNC opened at $184.07 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $72.49 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.26 and a beta of 1.12. The firm has a fifty day simple moving average of $193.80 and a two-hundred day simple moving average of $186.91.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.49 earnings per share. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. The ex-dividend date was 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 43.93%.

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.