Matrix Asset Advisors Inc. NY Acquires 808 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Matrix Asset Advisors Inc. NY raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,925 shares of the financial services provider’s stock after acquiring an additional 808 shares during the period. The PNC Financial Services Group makes up 1.8% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 27th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in The PNC Financial Services Group were worth $12,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Penserra Capital Management LLC boosted its holdings in The PNC Financial Services Group by 25.6% during the first quarter. Penserra Capital Management LLC now owns 3,554 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 724 shares during the period. Lido Advisors LLC boosted its holdings in The PNC Financial Services Group by 42.5% during the first quarter. Lido Advisors LLC now owns 2,242 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 669 shares during the period. Mutual of America Capital Management LLC boosted its holdings in The PNC Financial Services Group by 2.5% during the first quarter. Mutual of America Capital Management LLC now owns 54,803 shares of the financial services provider’s stock valued at $9,613,000 after acquiring an additional 1,337 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in The PNC Financial Services Group by 92.8% during the first quarter. AlphaCrest Capital Management LLC now owns 13,406 shares of the financial services provider’s stock valued at $2,352,000 after acquiring an additional 6,454 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in The PNC Financial Services Group by 253.3% during the first quarter. SG Americas Securities LLC now owns 40,087 shares of the financial services provider’s stock valued at $7,032,000 after acquiring an additional 66,230 shares during the period. Institutional investors own 81.76% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Citigroup cut shares of The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a report on Friday, October 1st. Bank of America lowered shares of The PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Friday, October 15th. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $201.00 to $221.00 and gave the stock a “hold” rating in a research report on Monday, October 11th. Wolfe Research raised shares of The PNC Financial Services Group from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $194.00 to $252.00 in a research report on Friday, July 2nd. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $203.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Monday, October 18th. Fourteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $199.03.

Shares of NYSE:PNC opened at $216.08 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.64. The PNC Financial Services Group, Inc. has a 12 month low of $106.85 and a 12 month high of $217.60. The company’s fifty day simple moving average is $193.36 and its 200 day simple moving average is $189.46. The firm has a market cap of $91.80 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.51 and a beta of 1.40.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 14th. The financial services provider reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.11. The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the firm posted $3.39 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 14.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 5th. Investors of record on Friday, October 15th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, October 14th. The PNC Financial Services Group’s payout ratio is 78.62%.

The PNC Financial Services Group Company Profile

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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