Savvy Advisors Inc. Acquires 3,090 Shares of The PNC Financial Services Group, Inc $PNC

Savvy Advisors Inc. lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 271.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,230 shares of the financial services provider’s stock after acquiring an additional 3,090 shares during the quarter. Savvy Advisors Inc.’s holdings in The PNC Financial Services Group were worth $850,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the second quarter worth $27,000. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $34,000. FNY Investment Advisers LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $37,000. True Wealth Design LLC grew its stake in The PNC Financial Services Group by 1,133.3% in the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after buying an additional 204 shares during the last quarter. Finally, Bayforest Capital Ltd raised its holdings in The PNC Financial Services Group by 237.1% in the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 147 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1%

PNC stock opened at $229.54 on Friday. The company has a market cap of $90.02 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The business has a 50-day simple moving average of $218.84 and a 200 day simple moving average of $201.86. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $243.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.77 earnings per share. Sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Analysts Set New Price Targets

PNC has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. TD Cowen upped their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Finally, Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $234.44.

About The PNC Financial Services Group

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.