Phillips Wealth Planners LLC Buys Shares of 5,522 The PNC Financial Services Group, Inc $PNC

Phillips Wealth Planners LLC bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, Holdings Channel reports. The fund bought 5,522 shares of the financial services provider’s stock, valued at approximately $1,403,000. The PNC Financial Services Group comprises 1.0% of Phillips Wealth Planners LLC’s portfolio, making the stock its 18th biggest holding.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 984 shares during the last quarter. Empowered Funds LLC increased its position in The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC increased its position in The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after buying an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at $482,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were 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 directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the transaction, the executive vice president directly owned 18,800 shares in the company, valued at approximately $4,809,792. The trade was a 15.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 51,654 shares of company stock valued at $11,552,661. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 0.9%

Shares of NYSE PNC opened at $254.65 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The company has a market cap of $101.59 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.02 and a beta of 0.91. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96. The business has a 50-day simple moving average of $247.28 and a two-hundred day simple moving average of $228.73.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the firm posted $3.85 earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. Research analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is currently 44.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. Oppenheimer increased their price target on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Robert W. Baird boosted their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Barclays lifted their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.73.

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.