Oxford Financial Group Ltd. Sells 209 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Oxford Financial Group Ltd. cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,130 shares of the financial services provider’s stock after selling 209 shares during the period. Oxford Financial Group Ltd.’s holdings in The PNC Financial Services Group were worth $268,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $25,000. Centerpoint Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $26,000. Fiduciary Alliance LLC acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $27,000. Roffman Miller Associates Inc. PA acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth $30,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $33,000. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Stephens dropped their price objective 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 report on Monday, October 16th. Jefferies Financial Group raised their price objective on shares of The PNC Financial Services Group from $112.00 to $127.00 in a report on Tuesday, October 10th. Piper Sandler raised their target price on shares of The PNC Financial Services Group from $130.00 to $131.00 and gave the company a “neutral” rating in a research report on Friday, September 15th. HSBC initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, September 7th. They issued a “reduce” rating and a $110.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating for the company in a research report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.99.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $130.26 on Friday. The firm has a 50-day moving average of $120.25 and a 200-day moving average of $122.84. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $170.27. The company has a market cap of $51.89 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.82 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, October 13th. The financial services provider reported $3.60 EPS for the quarter, topping the consensus estimate of $3.10 by $0.50. The business 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 PNC Financial Services Group’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.78 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.86 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, October 16th. The PNC Financial Services Group’s payout ratio is 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.