Integrated Wealth Concepts LLC Grows Stock Position in The PNC Financial Services Group, Inc $PNC

Integrated Wealth Concepts LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 22.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,499 shares of the financial services provider's stock after acquiring an additional 4,932 shares during the quarter. Integrated Wealth Concepts LLC's holdings in The PNC Financial Services Group were worth $6,526,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Cvfg LLC grew its holdings in The PNC Financial Services Group by 2.5% during the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock valued at $366,000 after purchasing an additional 43 shares in the last quarter. Trust Asset Management LLC increased its stake in The PNC Financial Services Group by 1.0% during the 2nd quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider's stock worth $1,097,000 after buying an additional 43 shares during the period. Baron Wealth Management LLC lifted its holdings in The PNC Financial Services Group by 3.0% in the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider's stock worth $325,000 after buying an additional 46 shares in the last quarter. Atom Investors LP lifted its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider's stock worth $529,000 after buying an additional 46 shares in the last quarter. Finally, Kennebec Savings Bank boosted its position in The PNC Financial Services Group by 1.4% in the 1st quarter. Kennebec Savings Bank now owns 3,546 shares of the financial services provider's stock valued at $738,000 after buying an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $244.32 on Friday. The firm has a fifty day moving average of $249.01 and a two-hundred day moving average of $230.27. The firm has a market cap of $97.47 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.21 and a beta of 0.90. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $258.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) 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 business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the business posted $3.85 EPS. The company's revenue for the quarter was up 21.4% on a year-over-year basis. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal 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 paid a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.3%. The PNC Financial Services Group's payout ratio is currently 44.03%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. UBS Group boosted their price target on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Barclays increased their price target on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Citigroup raised their price objective on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada lifted their price objective on The PNC Financial Services Group from $235.00 to $273.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $265.73.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company's stock, valued at $4,809,792. This trade represents a 15.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through PNC Bank and its other businesses, the company provides banking, lending, investment, and financial advisory services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management, payment processing, and corporate banking services.

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