The PNC Financial Services Group, Inc $PNC Shares Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,245 shares of the financial services provider’s stock after buying an additional 789 shares during the quarter. Generali Asset Management SPA SGR’s holdings in The PNC Financial Services Group were worth $8,621,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Granite Group Advisors LLC raised its stake in shares of The PNC Financial Services Group by 8.4% during the second quarter. Granite Group Advisors LLC now owns 15,566 shares of the financial services provider’s stock valued at $2,902,000 after purchasing an additional 1,200 shares during the period. Ritholtz Wealth Management boosted its stake in shares of The PNC Financial Services Group by 21.0% in the second quarter. Ritholtz Wealth Management now owns 27,322 shares of the financial services provider’s stock valued at $5,093,000 after purchasing an additional 4,735 shares during the period. Harbour Investments Inc. increased its stake in The PNC Financial Services Group by 115.1% during the 2nd quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock worth $1,050,000 after buying an additional 3,013 shares during the period. JGP Wealth Management LLC lifted its holdings in The PNC Financial Services Group by 1.2% in the 2nd quarter. JGP Wealth Management LLC now owns 95,043 shares of the financial services provider’s stock worth $17,718,000 after buying an additional 1,090 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its holdings in The PNC Financial Services Group by 24.2% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 6,897 shares of the financial services provider’s stock worth $1,286,000 after buying an additional 1,342 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $189.71 on Wednesday. The company has a market cap of $74.71 billion, a PE ratio of 12.98, a P/E/G ratio of 1.30 and a beta of 1.10. The company has a fifty day moving average price of $198.61 and a two-hundred day moving average price of $183.77. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $5.61 billion. During the same period in the prior year, the company earned $3.39 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is 46.51%.

Analyst Ratings Changes

PNC has been the subject of several recent analyst reports. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Oppenheimer lowered their price objective on The PNC Financial Services Group from $238.00 to $235.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. UBS Group upped their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Bank of America upped their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.21.

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.