Wealthspire Advisors LLC Acquires 281 Shares of The PNC Financial Services Group, Inc $PNC

Wealthspire Advisors LLC boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.4% during the 2nd quarter, Holdings Channel reports. The firm owned 6,624 shares of the financial services provider’s stock after buying an additional 281 shares during the period. Wealthspire Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of The PNC Financial Services Group by 1.4% during the second quarter. Vanguard Group Inc. now owns 38,487,074 shares of the financial services provider’s stock valued at $7,174,760,000 after buying an additional 521,455 shares during the last quarter. Geode Capital Management LLC increased its holdings in The PNC Financial Services Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 8,777,313 shares of the financial services provider’s stock valued at $1,628,302,000 after acquiring an additional 93,346 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock worth $844,967,000 after purchasing an additional 24,588 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after purchasing an additional 830,440 shares during the last quarter. Finally, Amundi grew its position in shares of The PNC Financial Services Group by 76.1% during the first quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock valued at $352,592,000 after purchasing an additional 944,731 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,151 shares of company stock worth $400,092. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PNC shares. Citigroup increased their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Oppenheimer dropped their price objective on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

The PNC Financial Services Group Trading Up 0.4%

Shares of NYSE PNC opened at $183.76 on Friday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The firm has a market cap of $72.06 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The business has a fifty day simple moving average of $190.04 and a two-hundred day simple moving average of $188.39. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.49 EPS. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

About The PNC Financial Services Group

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.