Private Wealth Asset Management LLC Sells 465 Shares of The PNC Financial Services Group, Inc $PNC

Private Wealth Asset Management LLC cut its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,585 shares of the financial services provider’s stock after selling 465 shares during the period. Private Wealth Asset Management LLC’s holdings in The PNC Financial Services Group were worth $1,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Avior Wealth Management LLC raised its position in The PNC Financial Services Group by 4.5% during the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 52 shares in the last quarter. Rockland Trust Co. raised its position in The PNC Financial Services Group by 0.5% during the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after purchasing an additional 53 shares in the last quarter. Almanack Investment Partners LLC. raised its position in The PNC Financial Services Group by 2.3% during the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 55 shares in the last quarter. Kestra Investment Management LLC raised its position in The PNC Financial Services Group by 11.4% during the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 58 shares in the last quarter. Finally, Bank of Stockton raised its position in The PNC Financial Services Group by 1.2% during the 2nd quarter. Bank of Stockton now owns 4,849 shares of the financial services provider’s stock valued at $904,000 after purchasing an additional 58 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent research reports. Citigroup boosted their price target 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. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Wall Street Zen raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.21.

The PNC Financial Services Group Trading Up 1.5%

Shares of NYSE:PNC opened at $189.71 on Wednesday. The business’s 50-day moving average is $198.61 and its 200 day moving average is $183.77. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a market capitalization of $74.71 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.30 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the company posted $3.39 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share 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. Investors of record on Tuesday, October 14th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.

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.