AlphaStar Capital Management LLC Purchases Shares of 5,347 The PNC Financial Services Group, Inc $PNC

AlphaStar Capital Management LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,347 shares of the financial services provider’s stock, valued at approximately $997,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNC. Saudi Central Bank acquired a new stake in The PNC Financial Services Group in the first quarter valued at $27,000. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group in the second quarter valued at $27,000. Concord Wealth Partners raised its stake in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares in the last quarter. Finally, WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth about $36,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Citigroup lifted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. UBS Group lifted their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $182.66 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The business’s 50-day moving average price is $195.95 and its 200 day moving average price is $185.83. The firm has a market cap of $71.93 billion, a P/E ratio of 11.80, a P/E/G ratio of 1.26 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the company posted $3.49 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

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 time 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.