Simon Quick Advisors LLC Grows Stock Position in The PNC Financial Services Group, Inc $PNC

Simon Quick Advisors LLC raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 21.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,233 shares of the financial services provider’s stock after acquiring an additional 390 shares during the period. Simon Quick Advisors LLC’s holdings in The PNC Financial Services Group were worth $416,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Saudi Central Bank purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $27,000. IMG Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $27,000. Concord Wealth Partners raised its stake in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Cornerstone Planning Group LLC raised its stake 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 buying an additional 65 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America lifted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Oppenheimer restated an “outperform” rating and issued a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Raymond James Financial lifted their price target on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Finally, Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $218.47.

Insider Buying and Selling at The PNC Financial Services Group

In other news, 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 transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $182.66 on Monday. The firm has a market cap of $71.93 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The stock has a 50 day moving average of $195.95 and a two-hundred day moving average of $186.29. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.49 EPS. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

The PNC Financial Services Group Profile

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.