The PNC Financial Services Group, Inc $PNC Position Cut by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC trimmed its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,696 shares of the financial services provider’s stock after selling 56 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $316,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in PNC. Massachusetts Financial Services Co. MA lifted its stake in The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after buying an additional 1,964,157 shares during the last quarter. Nuveen LLC bought a new stake in The PNC Financial Services Group in the first quarter valued at $306,905,000. Amundi lifted its stake in The PNC Financial Services Group by 76.1% in the first quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock valued at $352,592,000 after buying an additional 944,731 shares during the last quarter. AQR Capital Management LLC lifted its stake in The PNC Financial Services Group by 187.3% in the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock valued at $245,055,000 after buying an additional 926,709 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after buying an additional 830,440 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Bank of America raised their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Wall Street Zen raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $218.47.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $182.26 on Tuesday. The business’s 50-day moving average price is $197.97 and its 200 day moving average price is $184.22. The firm has a market cap of $71.78 billion, a P/E ratio of 11.77, a PEG ratio of 1.25 and a beta of 1.10. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week 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 PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping 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 return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.49 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 43.93%.

The PNC Financial Services Group 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.