Beverly Hills Private Wealth LLC Increases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Beverly Hills Private Wealth LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 114.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,302 shares of the financial services provider’s stock after purchasing an additional 2,293 shares during the period. Beverly Hills Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Argent Trust Co boosted its position in The PNC Financial Services Group by 28.6% during the first quarter. Argent Trust Co now owns 8,334 shares of the financial services provider’s stock worth $1,059,000 after acquiring an additional 1,853 shares during the last quarter. Ruffer LLP acquired a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $29,855,000. Arete Wealth Advisors LLC purchased a new position in The PNC Financial Services Group during the first quarter worth approximately $359,411,000,000. EA Series Trust purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $440,000. Finally, Border to Coast Pensions Partnership Ltd raised its holdings in shares of The PNC Financial Services Group by 20.2% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 106,703 shares of the financial services provider’s stock worth $13,562,000 after purchasing an additional 17,938 shares during the period. 80.14% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $128.97 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $170.27. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.34. The firm has a market cap of $51.37 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.07 and a beta of 1.14. The stock has a 50 day moving average of $119.71 and a 200-day moving average of $122.71.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.32 billion. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.78 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.86 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Monday, October 16th. The PNC Financial Services Group’s payout ratio is 43.03%.

Analyst Ratings Changes

A number of analysts recently issued reports on PNC shares. Bank of America raised shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 10th. Odeon Capital Group lowered shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Credit Suisse Group decreased their price target on shares of The PNC Financial Services Group from $145.00 to $135.00 in a research report on Wednesday, July 19th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $150.99.

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 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.