Allworth Financial LP Raises Position in The PNC Financial Services Group, Inc $PNC

Allworth Financial LP increased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 29.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,933 shares of the financial services provider’s stock after purchasing an additional 5,903 shares during the period. Allworth Financial LP’s holdings in The PNC Financial Services Group were worth $4,834,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Altman Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 1.7% during the 2nd quarter. Altman Advisors Inc. now owns 10,993 shares of the financial services provider’s stock valued at $2,116,000 after purchasing an additional 183 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in The PNC Financial Services Group by 2.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 7,570 shares of the financial services provider’s stock valued at $1,427,000 after acquiring an additional 169 shares during the period. PFG Advisors bought a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $285,000. Zions Bancorporation National Association UT boosted its stake in The PNC Financial Services Group by 35.8% in the 2nd quarter. Zions Bancorporation National Association UT now owns 57,054 shares of the financial services provider’s stock worth $10,636,000 after purchasing an additional 15,048 shares in the last quarter. Finally, Winthrop Capital Management LLC raised its holdings in The PNC Financial Services Group by 2.1% in the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 55 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Morgan Stanley upped their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Trading Down 0.2%

Shares of NYSE:PNC opened at $184.76 on Wednesday. The firm has a market capitalization of $72.46 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $192.93 and its 200 day moving average is $187.71.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter last year, the company posted $3.49 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is currently 43.93%.

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.