Exencial Wealth Advisors LLC lifted its stake in PNC Financial Services Group Inc (NYSE:PNC) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,614 shares of the financial services provider’s stock after acquiring an additional 847 shares during the period. Exencial Wealth Advisors LLC’s holdings in PNC Financial Services Group were worth $4,033,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PNC. TRUE Private Wealth Advisors acquired a new stake in PNC Financial Services Group during the third quarter worth $127,000. Moneta Group Investment Advisors LLC acquired a new stake in PNC Financial Services Group during the second quarter worth $143,000. Landaas & Co. WI ADV acquired a new stake in PNC Financial Services Group during the second quarter worth $147,000. Archford Capital Strategies LLC boosted its stake in PNC Financial Services Group by 197.0% during the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after buying an additional 723 shares in the last quarter. Finally, Kaizen Advisory LLC boosted its stake in PNC Financial Services Group by 147.8% during the second quarter. Kaizen Advisory LLC now owns 1,150 shares of the financial services provider’s stock worth $155,000 after buying an additional 686 shares in the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.
Shares of NYSE PNC opened at $131.76 on Wednesday. The firm has a market cap of $60.30 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.28 and a beta of 0.92. PNC Financial Services Group Inc has a 52-week low of $116.55 and a 52-week high of $163.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.90 and a quick ratio of 0.89.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.09. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.32 billion. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. During the same period last year, the business earned $2.16 earnings per share. As a group, sell-side analysts predict that PNC Financial Services Group Inc will post 10.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Shareholders of record on Wednesday, October 17th were issued a dividend of $0.95 per share. The ex-dividend date was Tuesday, October 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.88%. PNC Financial Services Group’s payout ratio is presently 44.71%.
In related news, EVP Robert Q. Reilly sold 24,710 shares of PNC Financial Services Group stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the transaction, the executive vice president now directly owns 131,020 shares of the company’s stock, valued at $18,406,999.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.
A number of research firms have weighed in on PNC. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. UBS Group set a $137.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research note on Monday, October 15th. Nomura decreased their price target on shares of PNC Financial Services Group from $162.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. BMO Capital Markets cut their price objective on PNC Financial Services Group to $139.00 and set an “outperform” rating for the company in a report on Monday, October 15th. They noted that the move was a valuation call. Finally, Morgan Stanley cut their price objective on PNC Financial Services Group from $168.00 to $160.00 and set an “equal weight” rating for the company in a report on Monday, October 15th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $155.50.
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PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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