Transcend Wealth Collective LLC Trims Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Transcend Wealth Collective LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,563 shares of the financial services provider’s stock after selling 266 shares during the period. Transcend Wealth Collective LLC’s holdings in The PNC Financial Services Group were worth $976,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Better Money Decisions LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Vantage Consulting Group Inc purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $27,000. Alpha DNA Investment Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $41,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $50,000. Hedge funds and other institutional investors own 81.56% of the company’s stock.

A number of equities analysts have recently commented on PNC shares. Citigroup raised their price objective on shares of The PNC Financial Services Group from $179.00 to $210.00 in a research report on Tuesday, April 20th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $182.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, April 19th. Compass Point raised their price objective on shares of The PNC Financial Services Group from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 18th. Robert W. Baird restated a “buy” rating on shares of The PNC Financial Services Group in a research report on Tuesday, April 20th. Finally, Raymond James upgraded shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Monday, May 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $179.30.

Shares of The PNC Financial Services Group stock opened at $188.75 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average is $187.88. The stock has a market cap of $80.19 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.24 and a beta of 1.41. The PNC Financial Services Group, Inc. has a 12-month low of $97.09 and a 12-month high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.75 by $1.35. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.10 billion. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 EPS. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, April 15th. The PNC Financial Services Group’s payout ratio is currently 72.33%.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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