The PNC Financial Services Group, Inc $PNC Stock Position Raised by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,747 shares of the financial services provider’s stock after acquiring an additional 2,394 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in The PNC Financial Services Group were worth $5,918,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after acquiring an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after acquiring an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of The PNC Financial Services Group by 41.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after acquiring an additional 830,440 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $186.38 on Friday. The company’s fifty day moving average is $197.18 and its 200-day moving average is $184.64. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The firm has a market cap of $73.40 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The PNC Financial Services Group’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid 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 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNC. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Evercore ISI upped 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. Oppenheimer reiterated an “outperform” rating and issued a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Finally, Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.