MOR Wealth Management LLC Acquires Shares of 2,795 The PNC Financial Services Group, Inc $PNC

MOR Wealth Management LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,795 shares of the financial services provider’s stock, valued at approximately $688,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $28,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $29,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $31,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stacy Juchno sold 3,354 shares of the 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 directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.2%

NYSE PNC opened at $245.64 on Friday. The business has a fifty day moving average price of $249.54 and a 200 day moving average price of $229.85. The company has a market cap of $98.00 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.22 and a beta of 0.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.96.

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

The PNC Financial Services Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on PNC shares. Barclays raised their price target on shares of 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. Truist Financial increased their target price on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Argus lifted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Morgan Stanley upped their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada increased their price target on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $265.73.

The PNC Financial Services Group 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.