Revolve Wealth Partners LLC Takes Position in The PNC Financial Services Group, Inc $PNC

Revolve Wealth Partners LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,939 shares of the financial services provider’s stock, valued at approximately $970,000.

Several other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Financial Life Planners purchased a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $31,000. Finally, Wilkerson Advisory Group LLC raised its holdings in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,300 shares of company stock worth $10,694,574 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America increased their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Citigroup boosted their price objective on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Argus increased their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Truist Financial increased their price objective on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada raised their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $265.73.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $251.26 on Tuesday. The company’s fifty day moving average price is $244.21 and its 200-day moving average price is $227.56. The firm has a market capitalization of $100.24 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.00 and a beta of 0.91. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.13. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm posted $3.85 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

The PNC Financial Services Group Company Profile

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.