Ethic Inc. Has $15.28 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Ethic Inc. has increased its stake in The PNC Financial Services Group by 1.9%, now owning 82,245 shares worth approximately $15.28 million.
• Analysts have raised their price targets for PNC, with estimates now ranging from $210 to $240, indicating a generally positive outlook for the stock.
• The PNC Financial Services Group recently reported $4.35 earnings per share for the quarter, surpassing analyst expectations and demonstrating an 8.9% year-over-year revenue growth.

Ethic Inc. grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,245 shares of the financial services provider's stock after purchasing an additional 1,535 shares during the period. Ethic Inc.'s holdings in The PNC Financial Services Group were worth $15,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Brighton Jones LLC grew its stake in 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 acquiring an additional 984 shares during the period. GAMMA Investing LLC raised its holdings in The PNC Financial Services Group by 10.3% during the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider's stock worth $1,149,000 after buying an additional 608 shares during the last quarter. PFG Investments LLC lifted its stake in shares of The PNC Financial Services Group by 43.4% in the first quarter. PFG Investments LLC now owns 4,012 shares of the financial services provider's stock valued at $705,000 after buying an additional 1,214 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of The PNC Financial Services Group by 7.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,243 shares of the financial services provider's stock worth $11,643,000 after acquiring an additional 4,419 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in shares of The PNC Financial Services Group by 54.6% in the 1st quarter. Continuum Advisory LLC now owns 1,606 shares of the financial services provider's stock worth $282,000 after acquiring an additional 567 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial increased their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, September 24th. Oppenheimer reissued an "outperform" rating and set a $240.00 price target (up from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Raymond James Financial upped 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. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen 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.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus price target of $218.47.

The PNC Financial Services Group Stock Down 0.0%

Shares of NYSE PNC opened at $182.10 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $71.71 billion, a PE ratio of 11.77, a P/E/G ratio of 1.27 and a beta of 1.10. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The business's fifty day moving average price is $197.78 and its 200-day moving average price is $184.20.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.