Ritholtz Wealth Management Has $690,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 34.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,933 shares of the financial services provider’s stock after buying an additional 1,003 shares during the quarter. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $690,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. E Fund Management Co. Ltd. acquired a new stake in The PNC Financial Services Group during the 1st quarter worth $131,000. Norinchukin Bank The increased its holdings in The PNC Financial Services Group by 4.7% during the 1st quarter. Norinchukin Bank The now owns 13,089 shares of the financial services provider’s stock worth $2,296,000 after purchasing an additional 586 shares in the last quarter. Standard Family Office LLC increased its holdings in The PNC Financial Services Group by 6.2% during the 1st quarter. Standard Family Office LLC now owns 2,807 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 164 shares in the last quarter. Sei Investments Co. increased its holdings in The PNC Financial Services Group by 20.3% during the 1st quarter. Sei Investments Co. now owns 237,069 shares of the financial services provider’s stock worth $41,216,000 after purchasing an additional 39,942 shares in the last quarter. Finally, Brinker Capital Investments LLC increased its holdings in The PNC Financial Services Group by 95.0% during the 1st quarter. Brinker Capital Investments LLC now owns 50,507 shares of the financial services provider’s stock worth $8,859,000 after purchasing an additional 24,600 shares in the last quarter. 81.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of PNC stock opened at $188.75 on Friday. The stock’s 50 day moving average is $187.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market capitalization of $80.19 billion, a P/E ratio of 9.86, a PEG ratio of 2.24 and a beta of 1.41. The PNC Financial Services Group, Inc. has a 12-month low of $97.09 and a 12-month high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $1.35. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.10 billion. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.95 earnings per share. Research analysts forecast that The PNC Financial Services Group, Inc. will post 12.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Thursday, April 15th. This represents a $4.60 annualized dividend and a yield of 2.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 72.33%.

A number of equities analysts have issued reports on PNC shares. Citigroup increased their target price on The PNC Financial Services Group from $179.00 to $210.00 in a report on Tuesday, April 20th. Morgan Stanley increased their target price on The PNC Financial Services Group from $182.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, April 19th. Argus raised their price objective on The PNC Financial Services Group from $173.00 to $203.00 and gave the company a “buy” rating in a report on Monday, April 19th. Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $169.00 to $183.00 and gave the company a “hold” rating in a report on Friday, April 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on The PNC Financial Services Group from $179.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $179.30.

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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