UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $888.31 Million Stock Position in The PNC Financial Services Group, Inc $PNC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.1% in the second quarter, HoldingsChannel reports. The fund owned 3,607,786 shares of the financial services provider’s stock after purchasing an additional 39,112 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in The PNC Financial Services Group were worth $888,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $28,000. Monetary Solutions Ltd acquired a new position in The PNC Financial Services Group during the fourth quarter worth $25,000. Quarry LP bought a new position in shares of The PNC Financial Services Group in the third quarter valued at $25,000. Archer Investment Corp acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at about $33,000. Finally, Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $29,000. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stacy M. Juchno sold 3,354 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,654 shares of company stock worth $1,627,011 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Truist Financial boosted their price objective on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Barclays raised their price objective on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $242.24 on Friday. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96. The company’s 50 day moving average price is $249.40 and its two-hundred day moving average price is $229.61. The stock has a market cap of $96.64 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.96 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The PNC Financial Services Group’s revenue was up 21.4% on a year-over-year basis. During the same period last year, the business posted $3.85 earnings per share. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.3%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is 44.03%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.