Premier Path Wealth Partners LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Premier Path Wealth Partners LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,411 shares of the financial services provider’s stock after buying an additional 410 shares during the period. Premier Path Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Catalina Capital Group LLC lifted its holdings in The PNC Financial Services Group by 6.5% in the 2nd quarter. Catalina Capital Group LLC now owns 1,797 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 110 shares in the last quarter. Diversified LLC lifted its holdings in shares of The PNC Financial Services Group by 2.8% during the 2nd quarter. Diversified LLC now owns 3,795 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 103 shares during the period. JB Capital LLC lifted its holdings in shares of The PNC Financial Services Group by 2.9% during the 2nd quarter. JB Capital LLC now owns 76,154 shares of the financial services provider’s stock worth $11,840,000 after acquiring an additional 2,164 shares during the period. &PARTNERS lifted its holdings in shares of The PNC Financial Services Group by 394.3% during the 2nd quarter. &PARTNERS now owns 29,488 shares of the financial services provider’s stock worth $4,592,000 after acquiring an additional 23,522 shares during the period. Finally, Precedent Wealth Partners LLC acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth approximately $664,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PNC shares. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup increased their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.02.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the transaction, the chief executive officer now directly owns 557,185 shares in the company, valued at $95,724,383. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,779 shares of company stock valued at $3,971,833. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock traded up $3.18 during mid-day trading on Friday, reaching $178.10. The company had a trading volume of 1,753,016 shares, compared to its average volume of 1,905,029. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $70.79 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.92 and a beta of 1.15. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $182.84. The stock’s 50-day simple moving average is $167.38 and its two-hundred day simple moving average is $158.21.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $3.36 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

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 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.