The PNC Financial Services Group, Inc $PNC Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 336,929 shares of the financial services provider’s stock after buying an additional 10,645 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $65,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Florida Trust Wealth Management Co boosted its position in The PNC Financial Services Group by 4.1% during the 3rd quarter. Florida Trust Wealth Management Co now owns 19,234 shares of the financial services provider’s stock worth $3,865,000 after acquiring an additional 755 shares during the period. Beacon Financial Advisory LLC lifted its holdings in The PNC Financial Services Group by 17.7% in the third quarter. Beacon Financial Advisory LLC now owns 2,852 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 429 shares during the period. Maryland State Retirement & Pension System grew its position in The PNC Financial Services Group by 3.2% in the 3rd quarter. Maryland State Retirement & Pension System now owns 19,813 shares of the financial services provider’s stock valued at $3,981,000 after buying an additional 608 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in The PNC Financial Services Group by 7.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,603 shares of the financial services provider’s stock valued at $3,537,000 after buying an additional 1,171 shares during the period. Finally, QRG Capital Management Inc. raised its position in shares of The PNC Financial Services Group by 1.5% during the 3rd quarter. QRG Capital Management Inc. now owns 44,390 shares of the financial services provider’s stock worth $8,919,000 after buying an additional 663 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.9%

NYSE PNC traded down $1.99 during trading on Tuesday, reaching $221.19. 349,799 shares of the company’s stock were exchanged, compared to its average volume of 2,630,787. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $227.00. The company’s fifty day simple moving average is $203.44 and its 200-day simple moving average is $197.50. The firm has a market capitalization of $86.74 billion, a PE ratio of 13.35, a P/E/G ratio of 0.95 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the firm earned $3.77 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PNC. Citigroup boosted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Truist Financial raised their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $223.11.

Insiders Place Their Bets

In related news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

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.