The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Raised by Private Advisor Group LLC

Private Advisor Group LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,784 shares of the financial services provider’s stock after buying an additional 6,300 shares during the period. Private Advisor Group LLC’s holdings in The PNC Financial Services Group were worth $6,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PNC. 1832 Asset Management L.P. boosted its stake in The PNC Financial Services Group by 33.5% during the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares during the last quarter. Nilsine Partners LLC boosted its stake in The PNC Financial Services Group by 1.7% during the 2nd quarter. Nilsine Partners LLC now owns 4,701 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 78 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 7.1% during the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 79 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in The PNC Financial Services Group by 2.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 82 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 80.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PNC shares. HSBC started coverage on shares of The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price target on the stock. Stephens cut their price target on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Monday, October 16th. Bank of America raised shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 10th. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $130.00 to $131.00 and gave the company a “neutral” rating in a research note on Friday, September 15th. Finally, StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $150.99.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $130.26 on Friday. 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’s fifty day moving average price is $120.25 and its two-hundred day moving average price is $122.81. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $170.27. The firm has a market capitalization of $51.89 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14.

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 (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm posted $3.78 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.86 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

About The PNC Financial Services Group

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.