The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,695 shares of the financial services provider’s stock after selling 174 shares during the quarter. Marcum Wealth LLC’s holdings in The PNC Financial Services Group were worth $1,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PNC. Cypress Point Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $25,000. Paragon Wealth Strategies LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth $26,000. Financial Advantage Inc. increased its stake in shares of The PNC Financial Services Group by 50.7% in the 2nd quarter. Financial Advantage Inc. now owns 743 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 250 shares during the last quarter. MV Capital Management Inc. grew its holdings in shares of The PNC Financial Services Group by 39.0% during the 2nd quarter. MV Capital Management Inc. now owns 221 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 62 shares during the period. Finally, Evoke Wealth LLC grew its holdings in shares of The PNC Financial Services Group by 157.9% during the 1st quarter. Evoke Wealth LLC now owns 245 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 150 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

PNC has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on The PNC Financial Services Group from $192.00 to $193.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Oppenheimer set a $189.50 price target on The PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, July 16th. Odeon Capital Group cut The PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Wolfe Research upgraded The PNC Financial Services Group from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $194.00 to $252.00 in a report on Friday, July 2nd. Finally, Credit Suisse Group increased their price target on The PNC Financial Services Group from $190.00 to $192.00 and gave the stock a “neutral” rating in a report on Monday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $184.20.

In other news, EVP Michael J. Hannon sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $184.16, for a total transaction of $773,472.00. Following the sale, the executive vice president now owns 47,625 shares of the company’s stock, valued at approximately $8,770,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 4,575 shares of company stock worth $845,141 in the last three months. Corporate insiders own 0.30% of the company’s stock.

PNC stock traded up $0.83 during mid-day trading on Wednesday, reaching $189.18. The company had a trading volume of 9,116 shares, compared to its average volume of 1,775,648. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $80.37 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The firm has a fifty day simple moving average of $188.07 and a 200 day simple moving average of $185.96. The PNC Financial Services Group, Inc. has a fifty-two week low of $101.58 and a fifty-two week high of $203.88.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.34). The PNC Financial Services Group had a net margin of 32.72% and a return on equity of 12.53%. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the business earned $8.40 EPS. The PNC Financial Services Group’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 14.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 5th. Stockholders of record on Friday, July 16th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.15. The PNC Financial Services Group’s dividend payout ratio (DPR) is 78.62%.

About The PNC Financial Services Group

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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

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