Personal CFO Solutions LLC Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Personal CFO Solutions LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,212 shares of the financial services provider’s stock after acquiring an additional 135 shares during the quarter. Personal CFO Solutions LLC’s holdings in The PNC Financial Services Group were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Argent Trust Co boosted its position in shares of The PNC Financial Services Group by 28.6% in the first quarter. Argent Trust Co now owns 8,334 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 1,853 shares during the period. Ruffer LLP bought a new position in The PNC Financial Services Group in the 1st quarter worth $29,855,000. EA Series Trust purchased a new stake in The PNC Financial Services Group in the 2nd quarter worth $440,000. Border to Coast Pensions Partnership Ltd raised its holdings in The PNC Financial Services Group by 20.2% during the first quarter. Border to Coast Pensions Partnership Ltd now owns 106,703 shares of the financial services provider’s stock valued at $13,562,000 after acquiring an additional 17,938 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of The PNC Financial Services Group by 1.0% in the second quarter. Handelsbanken Fonder AB now owns 109,318 shares of the financial services provider’s stock valued at $13,769,000 after acquiring an additional 1,098 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $130.26 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $51.89 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 1.15 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $170.27. The firm’s 50-day moving average is $120.25 and its 200 day moving average is $122.88.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period last year, the company earned $3.78 EPS. The PNC Financial Services Group’s quarterly revenue was down 5.7% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.86 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, November 5th. Investors of record on Tuesday, October 17th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.76%. The ex-dividend date was Monday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 43.03%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley decreased their target price on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 3rd. Bank of America raised shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Piper Sandler raised their target price on shares of The PNC Financial Services Group from $130.00 to $131.00 and gave the company a “neutral” rating in a research note on Friday, September 15th. HSBC began coverage on shares of The PNC Financial Services Group in a research note on Thursday, September 7th. They issued a “reduce” rating and a $110.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.99.

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 certificates of 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.