FDx Advisors Inc. Acquires 318 Shares of The PNC Financial Services Group, Inc $PNC

FDx Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 21.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,781 shares of the financial services provider’s stock after buying an additional 318 shares during the quarter. FDx Advisors Inc.’s holdings in The PNC Financial Services Group were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ignite Planners LLC raised its stake in shares of 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 purchasing an additional 126 shares in the last quarter. United Community Bank increased its holdings in The PNC Financial Services Group by 687.0% in the 1st quarter. United Community Bank now owns 12,325 shares of the financial services provider’s stock valued at $2,166,000 after buying an additional 10,759 shares during the period. Cerity Partners LLC raised its stake in shares of The PNC Financial Services Group by 6.3% in the 1st quarter. Cerity Partners LLC now owns 130,126 shares of the financial services provider’s stock valued at $22,872,000 after buying an additional 7,677 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of The PNC Financial Services Group by 18.8% during the 1st quarter. HB Wealth Management LLC now owns 51,133 shares of the financial services provider’s stock worth $8,988,000 after acquiring an additional 8,077 shares during the period. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $429,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Truist Financial increased their price target on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Bank of America increased their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Oppenheimer reiterated an “outperform” rating and set a $240.00 price objective (up from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

Insider Activity

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,151 shares of company stock valued at $400,092 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.6%

PNC stock opened at $184.07 on Friday. The business has a fifty day moving average price of $193.80 and a 200 day moving average price of $187.14. 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 PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market capitalization of $72.49 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was 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 is currently 43.93%.

The PNC Financial Services Group Company 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.