International Assets Investment Management LLC Reduces Stock Holdings in The PNC Financial Services Group, Inc $PNC

International Assets Investment Management LLC decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,310 shares of the financial services provider’s stock after selling 147 shares during the quarter. International Assets Investment Management LLC’s holdings in The PNC Financial Services Group were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the 1st quarter worth about $27,000. Concord Wealth Partners lifted its position in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $36,000. Finally, Fourth Dimension Wealth LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at approximately $41,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $181.05 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day moving average price is $197.54 and its 200-day moving average price is $184.18. The firm has a market capitalization of $71.30 billion, a PE ratio of 11.70, a P/E/G ratio of 1.27 and a beta of 1.10. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the business posted $3.49 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research 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 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. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial lifted their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Citigroup boosted their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and set a $240.00 price objective (up from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.47.

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.