180 Wealth Advisors LLC Has $4.37 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• 180 Wealth Advisors LLC reduced its stake in The PNC Financial Services Group by 10.5% during the second quarter, now holding 23,420 shares valued at approximately $4.37 million.
• Several institutional investors have increased their shareholdings in PNC, with 83.53% of the stock now owned by such investors and hedge funds.
• PNC recently announced a quarterly dividend of $1.70 per share, representing a yield of 3.7%, with the payout ratio at 43.93%.

180 Wealth Advisors LLC trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,420 shares of the financial services provider's stock after selling 2,746 shares during the quarter. 180 Wealth Advisors LLC's holdings in The PNC Financial Services Group were worth $4,366,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of 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 buying an additional 984 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of The PNC Financial Services Group by 10.3% in the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider's stock valued at $1,149,000 after buying an additional 608 shares in the last quarter. Spire Wealth Management lifted its stake in shares of The PNC Financial Services Group by 2.2% in the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after buying an additional 69 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of The PNC Financial Services Group by 414.7% in the first quarter. Golden State Wealth Management LLC now owns 1,920 shares of the financial services provider's stock valued at $337,000 after buying an additional 1,547 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake in shares of The PNC Financial Services Group by 29.9% in the first quarter. Pinnacle Bancorp Inc. now owns 648 shares of the financial services provider's stock valued at $114,000 after buying an additional 149 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PNC. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, September 24th. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Finally, Raymond James Financial lifted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $218.47.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $181.91 on Friday. The company's 50 day moving average is $197.28 and its 200-day moving average is $184.38. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a market cap of $71.64 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm posted $3.49 earnings per share. The company's quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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

About The PNC Financial Services Group

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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