Redwood Wealth Management Group LLC Invests $212,000 in The PNC Financial Services Group, Inc $PNC

Redwood Wealth Management Group LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,135 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PNC. Brighton Jones LLC increased its holdings in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the period. Moody Aldrich Partners LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $276,000. Avantax Planning Partners Inc. increased its holdings in shares of The PNC Financial Services Group by 3.4% during the 1st quarter. Avantax Planning Partners Inc. now owns 2,906 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 96 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 24.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 8,240 shares of the financial services provider’s stock worth $1,448,000 after purchasing an additional 1,616 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in shares of The PNC Financial Services Group by 9.1% during the 1st quarter. IFM Investors Pty Ltd now owns 82,213 shares of the financial services provider’s stock worth $15,197,000 after purchasing an additional 6,891 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Truist Financial upped 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 research note on Wednesday, September 24th. Bank of America upped their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Finally, Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $182.66 on Friday. The firm has a market cap of $71.93 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $195.95 and its two-hundred day moving average price is $186.04.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.49 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be given a $1.70 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 43.93%.

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.