The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Marcum Wealth LLC

Marcum Wealth LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 16.0% in the 2nd quarter, Holdings Channel reports. The firm owned 3,780 shares of the financial services provider’s stock after buying an additional 521 shares during the period. Marcum Wealth LLC’s holdings in The PNC Financial Services Group were worth $596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in The PNC Financial Services Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 37,277,399 shares of the financial services provider’s stock valued at $6,875,816,000 after buying an additional 349,470 shares during the period. BlackRock Inc. increased its stake in The PNC Financial Services Group by 2.0% in the 1st quarter. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock valued at $5,637,484,000 after buying an additional 589,293 shares during the period. State Street Corp increased its stake in The PNC Financial Services Group by 2.8% in the 4th quarter. State Street Corp now owns 19,704,923 shares of the financial services provider’s stock valued at $3,951,231,000 after buying an additional 536,564 shares during the period. Capital Research Global Investors increased its stake in The PNC Financial Services Group by 1.2% in the 1st quarter. Capital Research Global Investors now owns 17,152,726 shares of the financial services provider’s stock valued at $3,163,834,000 after buying an additional 195,172 shares during the period. Finally, Norges Bank acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $809,193,000. 81.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Michael P. Lyons sold 3,500 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total value of $584,360.00. Following the completion of the transaction, the executive vice president now owns 174,651 shares in the company, valued at approximately $29,159,730.96. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of The PNC Financial Services Group from $188.00 to $156.00 in a research note on Monday, July 11th. Raymond James downgraded shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, September 12th. Evercore ISI set a $175.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, July 19th. Finally, Wolfe Research decreased their target price on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $197.78.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $154.67 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.75 and a quick ratio of 0.75. The PNC Financial Services Group, Inc. has a fifty-two week low of $146.39 and a fifty-two week high of $228.14. The firm has a fifty day moving average price of $163.92 and a two-hundred day moving average price of $168.71. The company has a market cap of $63.43 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 2.37 and a beta of 1.21.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the firm earned $4.50 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 14.5 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Wednesday, July 13th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio is 46.95%.

The PNC Financial Services Group Company Profile

(Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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