Blake Schutter Theil Wealth Advisors LLC Buys New Stake in The PNC Financial Services Group, Inc $PNC

Blake Schutter Theil Wealth Advisors LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,100 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other large investors have also recently bought and sold shares of PNC. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after buying an additional 1,964,157 shares during the last quarter. Nuveen LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter worth about $306,905,000. Amundi increased 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 worth $352,592,000 after purchasing an additional 944,731 shares in the last quarter. AQR Capital Management LLC increased its position in shares of The PNC Financial Services Group by 187.3% during the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock worth $245,055,000 after purchasing an additional 926,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after purchasing an additional 830,440 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Wells Fargo & Company lifted their target price 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. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Truist Financial lifted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Finally, UBS Group raised their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.47.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $186.38 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 stock’s 50 day moving average is $197.18 and its two-hundred day moving average is $184.89. The firm has a market capitalization of $73.40 billion, a PE ratio of 12.04, a P/E/G ratio of 1.30 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.49 EPS. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The PNC Financial Services Group’s payout ratio is 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.