Kingswood Wealth Advisors LLC Has $519,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kingswood Wealth Advisors LLC lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 35.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,336 shares of the financial services provider’s stock after acquiring an additional 870 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Bank & Trust boosted its position in shares of The PNC Financial Services Group by 0.5% in the second quarter. First Bank & Trust now owns 16,917 shares of the financial services provider’s stock worth $2,630,000 after buying an additional 81 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in The PNC Financial Services Group by 1.9% in the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,390 shares of the financial services provider’s stock worth $838,000 after acquiring an additional 101 shares in the last quarter. Fulton Bank N.A. boosted its position in The PNC Financial Services Group by 4.9% during the 2nd quarter. Fulton Bank N.A. now owns 26,411 shares of the financial services provider’s stock worth $4,106,000 after acquiring an additional 1,224 shares during the period. Lynx Investment Advisory purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $467,000. Finally, Fragasso Financial Advisors Inc increased its holdings in shares of The PNC Financial Services Group by 3.9% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 7,841 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Insiders have sold a total of 20,295 shares of company stock valued at $3,547,181 in the last three months. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on PNC shares. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Royal Bank of Canada lifted their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. Barclays increased their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $176.09.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $2.34 on Wednesday, reaching $166.75. The stock had a trading volume of 1,721,819 shares, compared to its average volume of 1,942,623. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.84. The business’s 50-day moving average price is $162.69 and its two-hundred day moving average price is $156.36. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $66.35 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.36 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.02 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.84%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

About The PNC Financial Services Group

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.