Alteri Wealth LLC Has $226,000 Stake in The PNC Financial Services Group, Inc $PNC

Alteri Wealth LLC lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 25.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,215 shares of the financial services provider’s stock after selling 418 shares during the quarter. Alteri Wealth LLC’s holdings in The PNC Financial Services Group were worth $226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ignite Planners LLC grew its holdings in The PNC Financial Services Group by 8.4% during the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 126 shares during the period. HB Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group by 18.8% during the 1st quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock worth $8,988,000 after acquiring an additional 8,077 shares during the period. Focus Partners Advisor Solutions LLC increased its holdings in shares of The PNC Financial Services Group by 28.1% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock worth $5,159,000 after acquiring an additional 6,430 shares during the last quarter. Brookwood Investment Group LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $343,000. Finally, National Bank of Canada FI raised its stake in The PNC Financial Services Group by 157.1% in the 1st quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock valued at $152,726,000 after acquiring an additional 530,873 shares during the period. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PNC shares. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $211.00 to $220.00 in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Truist Financial upped their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $183.17 on Thursday. The company has a market cap of $71.83 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average price of $190.42 and a 200-day moving average price of $188.42.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,151 shares of company stock worth $400,092 in the last quarter. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Company Profile

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.