Cary Street Partners Asset Management LLC Has $773,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cary Street Partners Asset Management LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,134 shares of the financial services provider’s stock after buying an additional 780 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in The PNC Financial Services Group were worth $773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. 1832 Asset Management L.P. increased its stake in shares of The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 67 shares during the last quarter. Nilsine Partners LLC boosted its stake in shares of The PNC Financial Services Group by 1.7% in the 2nd quarter. Nilsine Partners LLC now owns 4,701 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 78 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 7.1% in the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 79 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of The PNC Financial Services Group by 2.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 82 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of The PNC Financial Services Group by 1.2% in the 2nd quarter. Private Trust Co. NA now owns 7,437 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 89 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on PNC shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of The PNC Financial Services Group in a research note on Tuesday, October 24th. Morgan Stanley dropped their price target on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating for the company in a research note on Tuesday, October 3rd. Odeon Capital Group downgraded The PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. HSBC assumed coverage on The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price objective for the company. Finally, Bank of America raised The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $150.99.

The PNC Financial Services Group Stock Up 0.7 %

PNC traded up $0.92 during midday trading on Friday, hitting $130.26. The company had a trading volume of 2,129,214 shares, compared to its average volume of 2,239,538. 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 quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $51.89 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 1.15 and a beta of 1.14. The stock’s 50 day moving average price is $120.25 and its 200 day moving average price is $122.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.50. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the firm posted $3.78 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th were paid a $1.55 dividend. The ex-dividend date of this dividend was Monday, October 16th. This represents a $6.20 dividend on an annualized basis and a yield of 4.76%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.03%.

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 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.