Focus Partners Advisor Solutions LLC Acquires New Holdings in The PNC Financial Services Group, Inc $PNC

Focus Partners Advisor Solutions LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,534 shares of the financial services provider’s stock, valued at approximately $10,473,000.

Several other large investors also recently added to or reduced their stakes in PNC. Monetary Solutions Ltd bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Quarry LP bought a new stake in The PNC Financial Services Group in the third quarter worth $25,000. Modus Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $29,000. Financial Life Planners acquired a new position in The PNC Financial Services Group during the first quarter worth $31,000. Finally, Wilkerson Advisory Group LLC raised its holdings in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target for the company. in a research report on Thursday, July 23rd. Stephens raised their price objective on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Royal Bank Of Canada upped their target price on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 51,654 shares of company stock worth $11,552,661. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Up 0.7%

The PNC Financial Services Group stock opened at $256.91 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $258.13. The firm has a fifty day moving average price of $246.72 and a two-hundred day moving average price of $228.45. The firm has a market cap of $102.49 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm’s revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $3.85 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.