Carnegie Investment Counsel Buys 1,726 Shares of The PNC Financial Services Group, Inc $PNC

Carnegie Investment Counsel raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 28.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,861 shares of the financial services provider’s stock after acquiring an additional 1,726 shares during the period. Carnegie Investment Counsel’s holdings in The PNC Financial Services Group were worth $1,465,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ignite Planners LLC grew its position in The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 126 shares during the period. Exane Asset Management grew its holdings in shares of The PNC Financial Services Group by 32.9% during the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock worth $28,434,000 after purchasing an additional 37,110 shares during the last quarter. Smith Salley Wealth Management grew its holdings in shares of The PNC Financial Services Group by 15.6% during the first quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider’s stock worth $12,804,000 after purchasing an additional 9,836 shares during the last quarter. United Community Bank grew its holdings in shares of The PNC Financial Services Group by 687.0% during the first quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock worth $2,166,000 after purchasing an additional 10,759 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of The PNC Financial Services Group by 2.1% during the first quarter. Truist Financial Corp now owns 1,156,136 shares of the financial services provider’s stock worth $203,214,000 after purchasing an additional 23,502 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $186.38 on Friday. The business’s 50-day simple moving average is $197.18 and its 200 day simple moving average is $184.89. The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.30 and a beta of 1.10. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month 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 posted its quarterly 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 business 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 firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.49 earnings per share. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

Wall Street Analysts Forecast Growth

PNC has been the topic of several research analyst reports. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating 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 increased their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Raymond James Financial increased their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Saturday. Finally, Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

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.