Nisa Investment Advisors LLC Acquires 7,147 Shares of The PNC Financial Services Group, Inc $PNC

Nisa Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,987 shares of the financial services provider’s stock after buying an additional 7,147 shares during the quarter. Nisa Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $30,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the second quarter worth $27,000. Concord Wealth Partners increased its holdings in shares of The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings 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 acquiring an additional 65 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth $36,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $186.38 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market cap of $73.40 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The firm’s fifty day moving average price is $197.18 and its 200-day moving average price is $184.89. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates 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 company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 earnings per share. On average, 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Saturday. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group 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.