Atria Wealth Solutions Inc. Cuts Position in The PNC Financial Services Group, Inc $PNC

Atria Wealth Solutions Inc. lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 32.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,717 shares of the financial services provider's stock after selling 8,805 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in The PNC Financial Services Group were worth $3,525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after buying an additional 1,964,157 shares in the last quarter. Nuveen LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth approximately $306,905,000. Amundi lifted its stake in shares of The PNC Financial Services Group by 76.1% in the first quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock worth $352,592,000 after buying an additional 944,731 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of The PNC Financial Services Group by 187.3% in the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider's stock worth $245,055,000 after buying an additional 926,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after buying an additional 830,440 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNC. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Raymond James Financial increased their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. Evercore ISI increased 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 report on Tuesday, September 30th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $218.21.

The PNC Financial Services Group Stock Up 1.5%

Shares of PNC stock opened at $189.71 on Wednesday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The stock has a market cap of $74.71 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.30 and a beta of 1.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The company has a 50 day simple moving average of $198.61 and a two-hundred day simple moving average of $183.77.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the prior year, the company earned $3.39 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. On average, research analysts expect 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. Stockholders of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group's dividend payout ratio is 46.51%.

The PNC Financial Services Group Company 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.

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