Integrated Wealth Concepts LLC Has $229,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Integrated Wealth Concepts LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 24.3% during the second quarter, HoldingsChannel reports. The fund owned 1,453 shares of the financial services provider’s stock after purchasing an additional 284 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in The PNC Financial Services Group were worth $229,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of The PNC Financial Services Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 37,277,399 shares of the financial services provider’s stock worth $6,875,816,000 after acquiring an additional 349,470 shares during the last quarter. BlackRock Inc. increased its stake in shares of The PNC Financial Services Group by 2.0% in the first quarter. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock worth $5,637,484,000 after acquiring an additional 589,293 shares during the last quarter. Capital Research Global Investors increased its stake in shares of The PNC Financial Services Group by 1.2% in the first quarter. Capital Research Global Investors now owns 17,152,726 shares of the financial services provider’s stock worth $3,163,834,000 after acquiring an additional 195,172 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of The PNC Financial Services Group by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,124,027 shares of the financial services provider’s stock worth $391,778,000 after acquiring an additional 51,860 shares during the last quarter. Finally, Provident Trust Co. increased its stake in shares of The PNC Financial Services Group by 1.9% in the second quarter. Provident Trust Co. now owns 2,052,045 shares of the financial services provider’s stock worth $323,751,000 after acquiring an additional 37,274 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael P. Lyons sold 3,500 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total value of $584,360.00. Following the completion of the sale, the executive vice president now owns 174,651 shares in the company, valued at $29,159,730.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.5 %

PNC stock opened at $163.29 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.78 and a quick ratio of 0.78. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $228.14. The company has a 50-day moving average of $157.31 and a two-hundred day moving average of $161.20. The stock has a market capitalization of $65.86 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 2.49 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNCGet Rating) last released its earnings results on Friday, October 14th. The financial services provider reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.09. The PNC Financial Services Group had a net margin of 26.96% and a return on equity of 12.45%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter last year, the company earned $3.75 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 14.43 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, November 5th. Investors of record on Monday, October 17th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Friday, October 14th. The PNC Financial Services Group’s payout ratio is presently 45.25%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PNC shares. Credit Suisse Group dropped their price target on shares of The PNC Financial Services Group from $172.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Barclays decreased their price objective on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Piper Sandler set a $160.00 price objective on shares of The PNC Financial Services Group in a report on Tuesday, July 19th. StockNews.com began coverage on shares of The PNC Financial Services Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $188.56.

The PNC Financial Services Group Company Profile

(Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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