Freedom Investment Management Inc. Purchases 93 Shares of The PNC Financial Services Group, Inc $PNC

Freedom Investment Management Inc. increased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,164 shares of the financial services provider’s stock after purchasing an additional 93 shares during the period. Freedom Investment Management Inc.’s holdings in The PNC Financial Services Group were worth $590,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock worth $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after acquiring an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after acquiring an additional 186,249 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after acquiring an additional 830,440 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. Cfra Research upgraded The PNC Financial Services Group to a “moderate buy” rating in a research note on Thursday, October 16th. Raymond James Financial raised their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Trading Up 2.4%

NYSE PNC opened at $186.38 on Friday. The stock has a market capitalization of $73.40 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 1.30 and a beta of 1.10. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The business’s fifty day moving average is $197.18 and its 200-day moving average is $184.89.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The company 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 business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.49 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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