United Bank purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) in the second quarter, HoldingsChannel reports. The fund purchased 2,052 shares of the financial services provider’s stock, valued at approximately $505,000.
Other large investors also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the second quarter valued at approximately $28,000. Monetary Solutions Ltd purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $29,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $31,000. 83.53% of the stock is owned by institutional investors.
The PNC Financial Services Group Price Performance
Shares of PNC stock opened at $246.56 on Thursday. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market capitalization of $98.36 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.01 and a beta of 0.91. The stock has a 50 day moving average price of $248.01 and a 200 day moving average price of $229.11.
The PNC Financial Services Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a dividend of $2.00 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 44.03%.
Insider Activity at The PNC Financial Services Group
In related news, EVP Stacy M. Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,654 shares of company stock valued at $11,552,661 over the last ninety days. Company insiders own 0.38% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target on the stock. in a report on Thursday, July 23rd. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. UBS Group increased their target price on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Argus raised their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $265.73.
The PNC Financial Services Group Profile
The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.
PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.
Read More
- Five stocks we like better than The PNC Financial Services Group
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNC – Free Report).
Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.
