36,885 Shares in The PNC Financial Services Group, Inc $PNC Acquired by Empowered Funds LLC

Empowered Funds LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 36,885 shares of the financial services provider’s stock, valued at approximately $9,082,000.

A number of other institutional investors also recently added to or reduced their stakes in PNC. Monetary Solutions Ltd acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth about $28,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $29,000. Finally, Financial Life Planners purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PNC shares. JPMorgan Chase & Co. raised their target price on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley upped their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target on the stock. in a research note on Thursday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of 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, Robert W. Baird upped their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $265.73.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. 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 business’s stock in a transaction dated Friday, June 5th. The shares were 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 owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,654 shares of company stock worth $1,627,011 in the last 90 days. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 0.5%

Shares of NYSE PNC opened at $242.24 on Friday. The business has a 50-day moving average price of $249.40 and a 200 day moving average price of $229.61. The stock has a market cap of $96.64 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 earnings per share. Equities research 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 declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $2.00 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. This represents a $8.00 annualized dividend and a yield of 3.3%. The PNC Financial Services Group’s 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.