Phillips Wealth Planners LLC Has $1.37 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Phillips Wealth Planners LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,197 shares of the financial services provider’s stock after buying an additional 158 shares during the period. The PNC Financial Services Group makes up approximately 1.3% of Phillips Wealth Planners LLC’s holdings, making the stock its 13th largest holding. Phillips Wealth Planners LLC’s holdings in The PNC Financial Services Group were worth $1,367,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Capital International Investors lifted its holdings in The PNC Financial Services Group by 0.5% during the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after purchasing an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc lifted its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the last quarter. Dimensional Fund Advisors LP increased its position in The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after buying an additional 100,993 shares during the period. Finally, Hsbc Holdings PLC increased its position in The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $187.15 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $114.51 and a 12-month high of $196.64. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $183.94 and its two-hundred day moving average price is $169.34. The stock has a market cap of $74.39 billion, a PE ratio of 15.82, a P/E/G ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business posted $3.60 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNC. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup increased their price objective on 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. Finally, Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $185.71.

Insider Activity

In other news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the transaction, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at $103,652,436.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,279 shares of company stock valued at $2,418,591. 0.42% of the stock is currently owned by corporate insiders.

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.