Legacy Financial Advisors Inc. Purchases 475 Shares of The PNC Financial Services Group, Inc $PNC

Legacy Financial Advisors Inc. grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNCFree Report) by 3.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 16,121 shares of the financial services provider’s stock after acquiring an additional 475 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in The PNC Financial Services Group were worth $2,834,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 65 shares during the period. REAP Financial Group LLC lifted its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC lifted its position in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 59 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $41,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on PNC shares. Raymond James Financial upgraded The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 target price for the company in a research report on Tuesday, July 8th. Bank of America boosted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an “underweight” rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.17.

Check Out Our Latest Report on The PNC Financial Services Group

The PNC Financial Services Group Price Performance

Shares of PNC opened at $192.06 on Tuesday. The stock has a market cap of $75.63 billion, a PE ratio of 13.14, a PEG ratio of 1.42 and a beta of 1.09. The business has a 50-day simple moving average of $189.24 and a two-hundred day simple moving average of $179.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.39 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s payout ratio is currently 46.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

(Free Report)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time 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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