Brooklyn Investment Group Purchases 1,321 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• The Brooklyn Investment Group increased its stake in The PNC Financial Services Group by 60.8% in the first quarter, now holding 3,492 shares valued at $614,000.
• Analysts show a positive outlook for PNC, with revisions raising price targets significantly; the consensus rating is a "Moderate Buy" with an average target of $214.17.
• The PNC Financial Services Group announced an increase in its quarterly dividend to $1.70, reflecting an annual yield of 3.5%.

Brooklyn Investment Group grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 60.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,492 shares of the financial services provider's stock after acquiring an additional 1,321 shares during the period. Brooklyn Investment Group's holdings in The PNC Financial Services Group were worth $614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. Cornerstone Planning Group LLC grew its position in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $35,000. REAP Financial Group LLC grew its position in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 80 shares during the period. True Wealth Design LLC grew its position in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 59 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $41,000. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Tuesday, July 8th. Finally, Oppenheimer upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $192.06 on Tuesday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $189.24 and a two-hundred day simple moving average of $179.33. The stock has a market capitalization of $75.64 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.39 EPS. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company's stock.

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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