Brown Advisory Inc. Has $19.35 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Brown Advisory Inc. grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 28.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,776 shares of the financial services provider’s stock after acquiring an additional 22,955 shares during the period. Brown Advisory Inc.’s holdings in The PNC Financial Services Group were worth $19,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. IMG Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group in the second quarter valued at $27,000. Concord Wealth Partners grew its stake in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. WPG Advisers LLC acquired a new position in The PNC Financial Services Group during the first quarter worth $36,000. Finally, FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group during the second quarter worth $37,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PNC. Raymond James Financial lifted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Oppenheimer reduced their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. 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. Finally, Truist Financial boosted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $197.91 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $209.85. The stock’s 50 day moving average is $187.70 and its 200-day moving average is $190.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $77.61 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.11 and a beta of 1.01.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $3.49 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Insider Activity

In related news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.41% 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.