GHP Investment Advisors Inc. Acquires 581 Shares of The PNC Financial Services Group, Inc $PNC

GHP Investment Advisors Inc. boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 4.4% in the second quarter, HoldingsChannel reports. The firm owned 13,781 shares of the financial services provider’s stock after purchasing an additional 581 shares during the period. GHP Investment Advisors Inc.’s holdings in The PNC Financial Services Group were worth $2,569,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the first quarter worth approximately $27,000. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the second quarter worth approximately $27,000. Concord Wealth Partners increased its holdings in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 65 shares in the last quarter. Finally, WPG Advisers LLC bought a new stake in The PNC Financial Services Group in the first quarter worth approximately $36,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 0.2%

Shares of NYSE:PNC opened at $182.66 on Monday. The stock has a market cap of $71.93 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.26 and a beta of 1.10. 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 PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The business’s 50 day moving average is $195.95 and its 200 day moving average is $186.29.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.49 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s payout ratio is presently 43.93%.

Insider Activity

In related news, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group 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 owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Evercore ISI boosted their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Oppenheimer restated an “outperform” rating and set a $240.00 price objective (up previously from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on 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.