Pure Financial Advisors LLC Buys Shares of 5,522 The PNC Financial Services Group, Inc $PNC

Pure Financial Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,522 shares of the financial services provider’s stock, valued at approximately $1,360,000.

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

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,654 shares of company stock valued at $1,627,011. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

PNC has been the topic of a number of research analyst reports. UBS Group raised their price target on 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. Argus boosted their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Robert W. Baird increased their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Finally, Oppenheimer upped their price target on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. 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 stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $265.73.

The PNC Financial Services Group Stock Up 0.4%

Shares of The PNC Financial Services Group stock opened at $245.04 on Thursday. The firm has a market cap 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 business’s 50 day simple moving average is $248.99 and its 200 day simple moving average is $229.52. 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 52-week low of $176.88 and a 52-week high of $258.96.

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 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 company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the business earned $3.85 EPS. The business’s quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

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

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.