Compass Wealth Management LLC Takes Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Compass Wealth Management acquired 5,961 shares of PNC worth approximately $1.47 million in the second quarter. Institutional investors collectively own 83.53% of the company.
• PNC reported quarterly earnings of $4.85 per share, beating estimates by $0.39, while revenue rose 21.4% year over year to $6.88 billion.
• The company increased its quarterly dividend to $2.00 per share, or $8.00 annually, producing a 3.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $265.73.

Compass Wealth Management LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,961 shares of the financial services provider's stock, valued at approximately $1,468,000.

Several other institutional investors have also bought and sold shares of the stock. Danske Bank A S purchased a new stake in The PNC Financial Services Group in the 2nd quarter valued at $488,000. Diversify Advisory Services LLC bought a new position in The PNC Financial Services Group during the 2nd quarter valued at $977,000. Gables Capital Management Inc. purchased a new position in The PNC Financial Services Group during the 2nd quarter worth $313,000. Wealthfront Advisers LLC purchased a new position in The PNC Financial Services Group during the 2nd quarter worth $14,674,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of The PNC Financial Services Group by 273.4% in the 2nd quarter. Main Street Financial Solutions LLC now owns 5,224 shares of the financial services provider's stock worth $1,286,000 after acquiring an additional 3,825 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president directly owned 3,107 shares of the company's stock, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,654 shares of company stock valued at $11,552,661 in the last three months. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $254.43 on Wednesday. The company has a market capitalization of $101.50 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.96. The company has a 50-day simple moving average of $247.74 and a 200 day simple moving average of $228.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating 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 analysts' expectations of $6.51 billion. During the same period in the previous year, the company earned $3.85 earnings per share. The company's quarterly revenue was up 21.4% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.1%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.70. The ex-dividend date of this dividend was Monday, July 20th. The PNC Financial Services Group's dividend payout ratio is currently 44.03%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $264.50 to $269.50 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Truist Financial upped 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. Stephens increased their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Argus increased their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Finally, Citigroup lifted their target price on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $265.73.

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.

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