5,522 Shares in The PNC Financial Services Group, Inc $PNC Purchased by Pure Financial Advisors LLC

Pure Financial Advisors LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 5,522 shares of the financial services provider’s stock, valued at approximately $1,360,000.

A number of other hedge funds also recently made changes to their positions in PNC. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $25,000. Quarry LP bought a new position in The PNC Financial Services Group during the third quarter worth $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $28,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $29,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group in the first quarter valued at about $31,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 0.4%

Shares of PNC opened at $245.04 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $258.96. The firm’s 50 day moving average is $248.99 and its 200-day moving average is $229.52. The stock has a market capitalization of $97.76 billion, a PE ratio of 13.49, a P/E/G ratio of 0.97 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the company posted $3.85 earnings per share. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 44.03%.

Insiders Place Their Bets

In other news, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,654 shares of company stock worth $1,627,011 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. UBS Group raised their price objective on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price objective on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Citigroup lifted their price target on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.73.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.