Joel Isaacson & Co. LLC Decreases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Joel Isaacson & Co. LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,228 shares of the financial services provider’s stock after selling 113 shares during the period. Joel Isaacson & Co. LLC’s holdings in The PNC Financial Services Group were worth $667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in The PNC Financial Services Group by 3.7% in the 2nd quarter. AdvisorNet Financial Inc now owns 5,356 shares of the financial services provider’s stock valued at $845,000 after buying an additional 192 shares during the period. Foster & Motley Inc. lifted its position in shares of The PNC Financial Services Group by 15.8% during the 1st quarter. Foster & Motley Inc. now owns 4,992 shares of the financial services provider’s stock worth $921,000 after purchasing an additional 680 shares during the last quarter. Diversified Trust Co lifted its position in shares of The PNC Financial Services Group by 23.9% during the 2nd quarter. Diversified Trust Co now owns 3,676 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 709 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in shares of The PNC Financial Services Group by 20.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 121,484 shares of the financial services provider’s stock worth $20,624,000 after purchasing an additional 20,807 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. lifted its position in shares of The PNC Financial Services Group by 12.8% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 40,917 shares of the financial services provider’s stock worth $7,547,000 after purchasing an additional 4,645 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PNC. Wells Fargo & Company decreased their price objective on shares of The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Evercore ISI set a $175.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of The PNC Financial Services Group from $215.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, September 12th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Finally, Wolfe Research cut their price target on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $197.78.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael P. Lyons sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total transaction of $584,360.00. Following the transaction, the executive vice president now directly owns 174,651 shares in the company, valued at $29,159,730.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $3.76 during trading on Friday, reaching $150.91. The company’s stock had a trading volume of 78,587 shares, compared to its average volume of 1,726,032. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $61.89 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.37 and a beta of 1.21. The PNC Financial Services Group, Inc. has a twelve month low of $146.39 and a twelve month high of $228.14. The business’s fifty day moving average price is $163.92 and its 200-day moving average price is $168.71.

The PNC Financial Services Group (NYSE:PNCGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the business posted $4.50 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 14.5 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Wednesday, July 13th were paid a dividend of $1.50 per share. The ex-dividend date was Tuesday, July 12th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.95%.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. 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.

See Also

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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