Cambridge Investment Research Advisors Inc. Has $9.38 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cambridge Investment Research Advisors Inc. lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,422 shares of the financial services provider’s stock after purchasing an additional 5,786 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in The PNC Financial Services Group were worth $9,375,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Schneider Downs Wealth Management Advisors LP lifted its holdings in The PNC Financial Services Group by 2.6% in the second quarter. Schneider Downs Wealth Management Advisors LP now owns 3,102 shares of the financial services provider’s stock valued at $489,000 after buying an additional 80 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of The PNC Financial Services Group by 3.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,799 shares of the financial services provider’s stock worth $6,752,000 after acquiring an additional 1,621 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of The PNC Financial Services Group by 0.4% during the second quarter. Resonant Capital Advisors LLC now owns 18,008 shares of the financial services provider’s stock worth $2,841,000 after acquiring an additional 73 shares in the last quarter. Diversified Trust Co increased its position in shares of The PNC Financial Services Group by 23.9% during the second quarter. Diversified Trust Co now owns 3,676 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 709 shares in the last quarter. Finally, Rothschild Investment Corp IL increased its position in shares of The PNC Financial Services Group by 2.9% during the second quarter. Rothschild Investment Corp IL now owns 5,699 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 160 shares in the last quarter. 81.89% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 2.4 %

NYSE:PNC opened at $154.67 on Friday. The firm has a market cap of $63.43 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.75 and a current ratio of 0.75. The PNC Financial Services Group, Inc. has a fifty-two week low of $146.39 and a fifty-two week high of $228.14. The firm has a 50-day simple moving average of $163.92 and a two-hundred day simple moving average of $168.71.

The PNC Financial Services Group (NYSE:PNCGet Rating) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.13 billion. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.50 earnings per share. Analysts predict that The PNC Financial Services Group, Inc. will post 14.5 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio is presently 46.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wolfe Research decreased their target price on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. Raymond James cut shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Piper Sandler set a $160.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating on the stock in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $197.78.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael P. Lyons sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total transaction of $584,360.00. Following the transaction, the executive vice president now owns 174,651 shares in the company, valued at $29,159,730.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

The PNC Financial Services Group Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating).

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

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.