The PNC Financial Services Group, Inc $PNC Stock Position Boosted by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 95.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,532 shares of the financial services provider’s stock after purchasing an additional 4,177 shares during the quarter. Soltis Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,896,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $7,921,455,000. Bank of America Corp DE bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $2,102,631,000. Deutsche Bank AG bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at approximately $1,054,189,000. Jupiter Topco LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $756,877,000. Finally, Legal & General Group Plc acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $669,168,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 1.7%

Shares of The PNC Financial Services Group stock opened at $227.88 on Friday. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The stock has a market cap of $90.91 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.20 and a beta of 0.94. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $230.03 and its 200-day moving average is $228.88.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.18. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $4.35 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc will post 19.22 earnings per share 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 Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.58%.

Insider Buying and Selling

In other news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNC. Truist Financial decreased their price target on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research note on Monday, October 19th. Bank of America reduced their target price on shares of The PNC Financial Services Group from $291.00 to $276.00 in a report on Thursday, October 8th. Raymond James Financial decreased their target price on shares of The PNC Financial Services Group from $275.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Wells Fargo & Company lifted their price target on shares of 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. Finally, Stephens reduced their price objective on shares of The PNC Financial Services Group from $265.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.17.

The PNC Financial Services Group Company Profile

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

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.