New Wave Wealth Advisors LLC Makes New $278,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

New Wave Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,787 shares of the financial services provider’s stock, valued at approximately $278,000.

Other institutional investors have also modified their holdings of the company. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the 2nd quarter valued at $26,000. ORG Partners LLC boosted its stake in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Core Wealth Advisors Inc. purchased a new position in The PNC Financial Services Group during the 4th quarter valued at $31,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 1.0 %

NYSE PNC opened at $184.84 on Tuesday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78. The company has a 50 day moving average price of $178.08 and a 200 day moving average price of $164.43. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a market cap of $73.55 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm posted $3.36 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price target on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. UBS Group upped their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $176.90.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now owns 567,041 shares in the company, valued at approximately $89,649,182.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at approximately $90,341,920. The disclosure for this sale can be found here. Insiders have sold 26,465 shares of company stock valued at $4,681,565 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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.