Atria Wealth Solutions Inc. lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 32.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,717 shares of the financial services provider’s stock after selling 8,805 shares during the period. Atria Wealth Solutions Inc.’s holdings in The PNC Financial Services Group were worth $3,525,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock valued at $6,673,217,000 after purchasing an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares during the period. Bank of New York Mellon Corp lifted its stake in The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after acquiring an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in 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 acquiring an additional 830,440 shares during the period. Institutional investors own 83.53% of the company’s stock.
The PNC Financial Services Group Trading Up 1.5%
Shares of PNC opened at $189.71 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a 50-day moving average price of $198.61 and a 200 day moving average price of $183.77. The firm has a market capitalization of $74.71 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.30 and a beta of 1.10.
The PNC Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on PNC shares. Wells Fargo & Company boosted 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 note on Friday, October 3rd. Citigroup upped their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.21.
View Our Latest Stock Analysis on PNC
The PNC Financial Services Group Company 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 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.
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