6,928 Shares in The PNC Financial Services Group, Inc $PNC Bought by Centaurus Financial Inc.

Centaurus Financial Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,928 shares of the financial services provider’s stock, valued at approximately $1,706,000.

A number of other large investors have also added to or reduced their stakes in PNC. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $25,000. Quarry LP bought a new stake in The PNC Financial Services Group in the third quarter valued at $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at $28,000. Modus Advisors LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at $29,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the 1st quarter worth $31,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Stephens raised their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Royal Bank Of Canada lifted their price objective on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. UBS Group upped their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Oppenheimer increased their target price on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $243.33 on Friday. The stock has a market cap of $97.08 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.97 and a beta of 0.91. The firm’s 50-day moving average is $249.21 and its 200 day moving average is $229.52. The PNC Financial Services Group, Inc has a 1 year low of $176.88 and a 1 year high of $258.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.85 and a quick ratio of 0.84.

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

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date was Monday, July 20th. The PNC Financial Services Group’s payout ratio is currently 44.03%.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Stacy M. Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the sale, the executive vice president directly owned 18,800 shares of the company’s stock, valued at approximately $4,809,792. This represents a 15.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,654 shares of company stock worth $1,627,011. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Company Profile

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.