Planned Solutions Inc. Purchases New Stake in The PNC Financial Services Group, Inc $PNC

Planned Solutions Inc. purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,108 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds have also recently bought and sold shares of PNC. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares during the period. GAMMA Investing LLC lifted its position in shares of The PNC Financial Services Group by 10.3% during the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 608 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of The PNC Financial Services Group by 221.2% during the first quarter. Exchange Traded Concepts LLC now owns 1,333 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 918 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 120 shares in the last quarter. Finally, Rockline Wealth Management LLC lifted its position in shares of The PNC Financial Services Group by 5.7% during the first quarter. Rockline Wealth Management LLC now owns 15,882 shares of the financial services provider’s stock worth $2,792,000 after purchasing an additional 862 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.5%

Shares of NYSE:PNC opened at $179.30 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $198.10 and a 200 day simple moving average of $183.85. The firm has a market cap of $70.61 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.10. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued 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 business had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 earnings per share. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.8%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Analyst Ratings Changes

A number of research analysts have recently commented on PNC shares. Oppenheimer reissued an “outperform” rating and set a $240.00 target price (up from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Citigroup boosted their target price on shares of 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. Finally, Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group 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.