Wealth Management Strategies Inc. Buys New Position in The PNC Financial Services Group, Inc $PNC

Wealth Management Strategies Inc. bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,324 shares of the financial services provider’s stock, valued at approximately $1,803,000. The PNC Financial Services Group accounts for about 0.7% of Wealth Management Strategies Inc.’s investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $25,000. Quarry LP acquired a new position in The PNC Financial Services Group in the third quarter valued at $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in The PNC Financial Services Group in the second quarter valued at $28,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $29,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group during the first quarter valued at $31,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNC. 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 research report on Thursday, July 16th. Barclays raised their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock 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 company a “buy” rating in a research note on Tuesday, July 7th. Argus increased their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research 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 given a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $265.73.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy M. Juchno sold 3,354 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,654 shares of company stock valued at $1,627,011. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Down 0.5%

Shares of The PNC Financial Services Group stock opened at $243.33 on Friday. The stock has a market capitalization of $97.08 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96. The stock has a 50 day moving average price of $249.21 and a two-hundred day moving average price of $229.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm earned $3.85 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This is a positive change 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 dividend payout ratio is currently 44.03%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.