OneDigital Investment Advisors LLC Buys Shares of 6,269 The PNC Financial Services Group, Inc $PNC

OneDigital Investment Advisors LLC bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,269 shares of the financial services provider’s stock, valued at approximately $1,543,000.

A number of other hedge funds have also made changes to their positions in PNC. Cvfg LLC increased its stake in shares of The PNC Financial Services Group by 2.5% in the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock worth $366,000 after buying an additional 43 shares during the last quarter. Trust Asset Management LLC boosted its stake in The PNC Financial Services Group by 1.0% during the 2nd quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 43 shares during the last quarter. Baron Wealth Management LLC boosted its stake in The PNC Financial Services Group by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 46 shares during the last quarter. Atom Investors LP grew its holdings in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 46 shares in the last quarter. Finally, Flavin Financial Services Inc. grew its holdings in The PNC Financial Services Group by 0.4% during the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PNC. UBS Group upped their target price on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Truist Financial lifted their price target on The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Stephens boosted their price objective on The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Royal Bank Of Canada boosted their price objective on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Oppenheimer upped their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Stock Down 0.9%

Shares of NYSE:PNC opened at $254.65 on Tuesday. The company’s fifty day moving average is $247.28 and its two-hundred day moving average is $228.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $258.96. The stock has a market capitalization of $101.59 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the business posted $3.85 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS 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. Shareholders of record on Monday, July 20th were issued a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio is 44.03%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 51,654 shares of company stock worth $11,552,661. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group 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.