Kore Private Wealth LLC Has $637,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kore Private Wealth LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,339 shares of the financial services provider’s stock after purchasing an additional 199 shares during the quarter. Kore Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $637,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PNC. Usca Ria LLC boosted its holdings in The PNC Financial Services Group by 4.3% during the second quarter. Usca Ria LLC now owns 13,950 shares of the financial services provider’s stock worth $2,661,000 after buying an additional 572 shares during the last quarter. Verition Fund Management LLC bought a new position in The PNC Financial Services Group during the first quarter worth about $1,117,000. Bessemer Group Inc. boosted its holdings in The PNC Financial Services Group by 6.4% during the second quarter. Bessemer Group Inc. now owns 43,510 shares of the financial services provider’s stock worth $8,300,000 after buying an additional 2,618 shares during the last quarter. California State Teachers Retirement System boosted its holdings in The PNC Financial Services Group by 1.1% during the first quarter. California State Teachers Retirement System now owns 778,574 shares of the financial services provider’s stock worth $136,570,000 after buying an additional 8,554 shares during the last quarter. Finally, Youngs Advisory Group Inc. boosted its holdings in The PNC Financial Services Group by 49.7% during the second quarter. Youngs Advisory Group Inc. now owns 1,764 shares of the financial services provider’s stock worth $337,000 after buying an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

NYSE:PNC opened at $201.76 on Thursday. The firm has a market capitalization of $85.72 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The PNC Financial Services Group, Inc. has a twelve month low of $106.85 and a twelve month high of $204.93. The stock’s 50 day moving average price is $192.65 and its two-hundred day moving average price is $188.85. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.64.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $2.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.77 by ($0.34). The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.40 billion. The PNC Financial Services Group had a return on equity of 12.53% and a net margin of 32.72%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the firm earned $8.40 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 14.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 5th. Investors of record on Friday, October 15th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Thursday, October 14th. The PNC Financial Services Group’s payout ratio is presently 78.62%.

A number of equities analysts have issued reports on PNC shares. Odeon Capital Group cut The PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $192.00 to $193.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $201.00 to $221.00 and gave the company a “hold” rating in a report on Monday. Citigroup cut The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a report on Friday, October 1st. Finally, Oppenheimer set a $189.50 price objective on The PNC Financial Services Group and gave the company a “hold” rating in a report on Friday, July 16th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $192.63.

In related news, EVP Michael J. Hannon sold 4,200 shares of the business’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $184.16, for a total transaction of $773,472.00. Following the transaction, the executive vice president now directly owns 47,625 shares of the company’s stock, valued at approximately $8,770,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 4,575 shares of company stock worth $845,158 over the last three months. 0.30% of the stock is owned by insiders.

About The PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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