Brookwood Investment Group LLC Sells 593 Shares of The PNC Financial Services Group, Inc $PNC

Brookwood Investment Group LLC lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 30.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,359 shares of the financial services provider’s stock after selling 593 shares during the period. Brookwood Investment Group LLC’s holdings in The PNC Financial Services Group were worth $253,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $27,000. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $27,000. Concord Wealth Partners lifted its stake in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in 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 in the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $37,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.0%

PNC stock opened at $183.09 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $72.10 billion, a PE ratio of 11.83, a PEG ratio of 1.29 and a beta of 1.10. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The business’s 50 day simple moving average is $196.84 and its 200 day simple moving average is $185.45.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for 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 was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 EPS. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. 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 3.7%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PNC. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Bank of America boosted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Oppenheimer reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $235.00) on shares of The PNC Financial Services Group in a research report on Thursday, October 16th. Finally, Raymond James Financial boosted their price target on 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. One equities 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.47.

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.