Nicholas Wealth LLC. Acquires 1,324 Shares of The PNC Financial Services Group, Inc $PNC

Nicholas Wealth LLC. increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 27.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,127 shares of the financial services provider’s stock after purchasing an additional 1,324 shares during the period. Nicholas Wealth LLC.’s holdings in The PNC Financial Services Group were worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. IMG Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $27,000. Saudi Central Bank bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $27,000. Concord Wealth Partners boosted its stake in The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. FNY Investment Advisers LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter worth $37,000. Finally, WPG Advisers LLC bought a new position in The PNC Financial Services Group during the 1st quarter worth about $36,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $180.20 on Wednesday. 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 business’s 50 day moving average price is $190.79 and its two-hundred day moving average price is $188.46. The company has a market cap of $70.66 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the company posted $3.49 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $240.00 price target (up from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Truist Financial lifted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.47.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents 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 over the last ninety days. Insiders own 0.41% of the company’s stock.

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.