Portside Wealth Group LLC Raises Holdings in The PNC Financial Services Group, Inc $PNC

Portside Wealth Group LLC lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 38.9% in the second quarter, HoldingsChannel.com reports. The firm owned 2,118 shares of the financial services provider’s stock after acquiring an additional 593 shares during the quarter. Portside Wealth Group LLC’s holdings in The PNC Financial Services Group were worth $395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Brighton Jones LLC grew its stake in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares in the last quarter. IFP Advisors Inc boosted its holdings in The PNC Financial Services Group by 5.3% in the first quarter. IFP Advisors Inc now owns 4,912 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 248 shares during the period. Crestwood Advisors Group LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth $209,000. Ignite Planners LLC grew its stake in The PNC Financial Services Group by 8.4% during the 1st quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 126 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in The PNC Financial Services Group by 3.4% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 260,251 shares of the financial services provider’s stock worth $45,744,000 after purchasing an additional 8,456 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Oppenheimer decreased 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 report on Wednesday. Finally, Raymond James Financial increased their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $183.17 on Thursday. The stock has a market cap of $71.83 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a 50 day moving average of $190.42 and a two-hundred day moving average of $188.42. 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 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 during the quarter, compared to analysts’ expectations 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 business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.49 earnings per share. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were issued a dividend of $1.70 per share. 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 dividend payout ratio is currently 43.93%.

Insider Activity

In other news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a filing 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 that occurred on Friday, October 24th. The shares were 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. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,151 shares of company stock valued at $400,092 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

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.