Ritholtz Wealth Management Grows Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 34.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,933 shares of the financial services provider’s stock after purchasing an additional 1,003 shares during the period. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $690,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in The PNC Financial Services Group by 5.4% in the first quarter. Park Avenue Securities LLC now owns 7,183 shares of the financial services provider’s stock valued at $1,260,000 after purchasing an additional 365 shares during the last quarter. Boston Trust Walden Corp grew its holdings in The PNC Financial Services Group by 0.5% in the first quarter. Boston Trust Walden Corp now owns 462,475 shares of the financial services provider’s stock valued at $81,123,000 after purchasing an additional 2,127 shares during the last quarter. Murphy Pohlad Asset Management LLC grew its holdings in The PNC Financial Services Group by 5.1% in the first quarter. Murphy Pohlad Asset Management LLC now owns 20,520 shares of the financial services provider’s stock valued at $3,599,000 after purchasing an additional 1,000 shares during the last quarter. Smith Salley & Associates grew its holdings in The PNC Financial Services Group by 3.1% in the first quarter. Smith Salley & Associates now owns 84,108 shares of the financial services provider’s stock valued at $14,754,000 after purchasing an additional 2,545 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC grew its holdings in The PNC Financial Services Group by 252.9% in the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,958 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 3,553 shares during the last quarter. 81.56% of the stock is currently owned by institutional investors.

Several analysts have weighed in on PNC shares. Evercore ISI initiated coverage on The PNC Financial Services Group in a report on Wednesday, June 2nd. They issued an “outperform” rating on the stock. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $169.00 to $183.00 and gave the company a “hold” rating in a research note on Friday, April 9th. Argus increased their price objective on The PNC Financial Services Group from $173.00 to $203.00 and gave the company a “buy” rating in a research note on Monday, April 19th. Compass Point increased their price objective on The PNC Financial Services Group from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, May 18th. Finally, Stephens increased their price objective on The PNC Financial Services Group from $190.00 to $195.00 and gave the company an “equal weight” rating in a research note on Monday, April 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $179.30.

NYSE PNC opened at $188.75 on Friday. The stock’s 50-day simple moving average is $187.88. The stock has a market capitalization of $80.19 billion, a P/E ratio of 9.86, a PEG ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc. has a twelve month low of $97.09 and a twelve month high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $1.35. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.10 billion. The PNC Financial Services Group had a return on equity of 7.54% and a net margin of 47.97%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.95 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 5th. Stockholders of record on Friday, April 16th were issued a $1.15 dividend. The ex-dividend date was Thursday, April 15th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 72.33%.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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