The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Reduced by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 75.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,789 shares of the financial services provider’s stock after selling 24,250 shares during the period. Beacon Pointe Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,232,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ACG Wealth bought a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $27,000. Win Advisors Inc. lifted its stake in shares of The PNC Financial Services Group by 61.0% in the second quarter. Win Advisors Inc. now owns 198 shares of the financial services provider’s stock worth $32,000 after buying an additional 75 shares during the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $35,000. Carmichael Hill & Associates Inc. grew its stake in The PNC Financial Services Group by 43.1% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 249 shares of the financial services provider’s stock valued at $39,000 after buying an additional 75 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $166.50 on Thursday. The firm has a market capitalization of $67.15 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.47 and a beta of 1.16. The stock has a fifty day moving average price of $157.37 and a two-hundred day moving average price of $160.93. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $228.14. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.78 and a quick ratio of 0.78.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its earnings results on Friday, October 14th. The financial services provider reported $3.78 EPS for the quarter, beating the consensus estimate of $3.69 by $0.09. The PNC Financial Services Group had a net margin of 26.96% and a return on equity of 12.45%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company earned $3.75 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 14.43 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, November 5th. Stockholders of record on Monday, October 17th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, October 14th. This represents a $6.00 annualized dividend and a dividend yield of 3.60%. The PNC Financial Services Group’s dividend payout ratio is presently 45.25%.

Insider Activity

In other news, EVP Guild Deborah sold 2,833 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the sale, the executive vice president now owns 20,527 shares in the company, valued at approximately $3,277,340.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PNC shares. JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $191.00 to $171.50 in a report on Tuesday, October 11th. Evercore ISI decreased their price target on shares of The PNC Financial Services Group to $180.00 in a research report on Thursday, October 20th. StockNews.com initiated coverage on shares of The PNC Financial Services Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating on the stock in a research report on Monday, September 12th. Finally, The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $162.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $188.56.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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