J.W. Cole Advisors Inc. Has $2.39 Million Stake in The PNC Financial Services Group, Inc $PNC

J.W. Cole Advisors Inc. decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 24.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,442 shares of the financial services provider’s stock after selling 3,703 shares during the period. J.W. Cole Advisors Inc.’s holdings in The PNC Financial Services Group were worth $2,388,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth about $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $35,000. Cornerstone Planning Group LLC grew its holdings in shares of The PNC Financial Services Group by 2,100.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after buying an additional 168 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the third quarter worth about $37,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the third quarter worth about $39,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Truist Financial lifted their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Citigroup lifted their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.11.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $228.76 on Monday. The stock has a market capitalization of $91.86 billion, a PE ratio of 13.29, a P/E/G ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The business has a fifty day moving average price of $218.12 and a two-hundred day moving average price of $214.61. The PNC Financial Services Group, Inc has a fifty-two week low of $172.73 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.51 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s payout ratio is 39.51%.

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.