Compass Wealth Management LLC Acquires New Shares in The PNC Financial Services Group, Inc $PNC

Compass Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, Holdings Channel.com reports. The fund bought 5,961 shares of the financial services provider’s stock, valued at approximately $1,468,000.

Several other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp boosted its stake in The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock worth $259,344,000 after purchasing an additional 39,589 shares during the period. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares in the last quarter. Stoneridge Investment Partners LLC grew its holdings in The PNC Financial Services Group by 59.1% during the 4th quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after buying an additional 8,818 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $35,124,000. Finally, Empire Life Investments Inc. increased its position in shares of The PNC Financial Services Group by 8.7% during the fourth quarter. Empire Life Investments Inc. now owns 217,119 shares of the financial services provider’s stock valued at $45,319,000 after buying an additional 17,418 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 51,654 shares of company stock worth $11,552,661 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.0%

Shares of NYSE PNC opened at $254.43 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average of $247.74 and a 200-day moving average of $228.96. The firm has a market capitalization of $101.50 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.02 and a beta of 0.91. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The PNC Financial Services Group’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $3.85 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is currently 44.03%.

Analyst Ratings Changes

A number of research firms have recently commented on PNC. Oppenheimer raised their price objective on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Robert W. Baird upped their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Argus increased their target price on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Barclays increased their target price on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price target on the stock. in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $265.73.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.