17,159 Shares in The PNC Financial Services Group, Inc $PNC Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,159 shares of the financial services provider's stock, valued at approximately $4,225,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC boosted its holdings in shares of 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 period. Sivia Capital Partners LLC boosted its holdings in shares of 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 period. Treasurer of the State of North Carolina increased its position 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 worth $34,409,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter worth approximately $482,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup upped their price target on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. Robert W. Baird boosted their target price on shares of 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. Oppenheimer increased their target price on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company raised their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.73.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy M. Juchno sold 3,354 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the sale, the executive vice president directly owned 18,800 shares of the company's stock, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,654 shares of company stock worth $11,552,661 in the last ninety days. Insiders own 0.38% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $243.05 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.96. The business's 50-day moving average price is $248.28 and its two-hundred day moving average price is $229.34. The company has a market capitalization of $96.96 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts' consensus estimates of $4.46 by $0.39. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business's quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. 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 disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $2.00 dividend. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group's dividend payout ratio is currently 44.03%.

The PNC Financial Services Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source