Pasadena Private Wealth LLC Has $494,000 Holdings in The PNC Financial Services Group, Inc $PNC

Pasadena Private Wealth LLC raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,649 shares of the financial services provider’s stock after buying an additional 530 shares during the quarter. Pasadena Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $494,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PNC. Brighton Jones LLC lifted its holdings in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of The PNC Financial Services Group by 10.3% in the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider’s stock valued at $1,149,000 after purchasing an additional 608 shares in the last quarter. Spire Wealth Management raised its stake in shares of The PNC Financial Services Group by 2.2% in the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 69 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of The PNC Financial Services Group by 7.9% in the first quarter. Sequoia Financial Advisors LLC now owns 15,406 shares of the financial services provider’s stock valued at $2,708,000 after purchasing an additional 1,129 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of The PNC Financial Services Group by 0.5% in the first quarter. Robeco Institutional Asset Management B.V. now owns 59,539 shares of the financial services provider’s stock valued at $10,465,000 after purchasing an additional 324 shares in the last quarter. 83.53% of the stock is currently 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 Monday. 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 stock has a fifty day moving average price of $197.18 and a two-hundred day moving average price of $185.06. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a market capitalization of $73.40 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.30 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.82 billion. During the same period in the prior year, the company posted $3.49 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. Citigroup upped their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. UBS Group upped their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wells Fargo & Company upped their target price on 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. Truist Financial upped their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, September 24th. Finally, Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. One 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 issued a Sell rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average 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.