Prestige Wealth Management Group LLC Buys 86 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Prestige Wealth Management Group LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,398 shares of the financial services provider’s stock after purchasing an additional 86 shares during the period. Prestige Wealth Management Group LLC’s holdings in The PNC Financial Services Group were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its holdings in shares of The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 107 shares in the last quarter. Gryphon Financial Partners LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $228,000. Principal Securities Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter worth $518,000. Northwest Financial Advisors bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $59,000. Finally, NBC Securities Inc. grew its holdings in shares of The PNC Financial Services Group by 13.6% during the fourth quarter. NBC Securities Inc. now owns 8,432 shares of the financial services provider’s stock valued at $1,305,000 after buying an additional 1,010 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $4.25 during trading hours on Friday, reaching $176.70. The stock had a trading volume of 1,679,479 shares, compared to its average volume of 1,881,163. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $185.84. 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 50 day simple moving average of $173.04 and a 200 day simple moving average of $160.62. The stock has a market cap of $70.31 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 business 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 in the previous year, the business posted $3.36 EPS. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.62%. 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 payout ratio is currently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 21st. The stock was 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 directly owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The PNC Financial Services Group 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 completion of the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. The disclosure for this sale can be found here. Insiders have sold 25,263 shares of company stock valued at $4,418,109 in the last 90 days. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PNC. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. UBS Group increased their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.02.

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.