Cookson Peirce & Co. Inc. Sells 4,138 Shares of The PNC Financial Services Group, Inc $PNC

Cookson Peirce & Co. Inc. lessened its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 60.5% in the second quarter, HoldingsChannel reports. The firm owned 2,701 shares of the financial services provider’s stock after selling 4,138 shares during the period. Cookson Peirce & Co. Inc.’s holdings in The PNC Financial Services Group were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its holdings in The PNC Financial Services Group by 4.5% in the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 52 shares during the last quarter. Rockland Trust Co. increased its holdings in shares of The PNC Financial Services Group by 0.5% in the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock worth $1,957,000 after acquiring an additional 53 shares in the last quarter. Almanack Investment Partners LLC. increased its holdings in shares of The PNC Financial Services Group by 2.3% in the second quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 55 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of The PNC Financial Services Group by 15.0% in the second quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 56 shares in the last quarter. Finally, Kestra Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 11.4% in the first quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4%

PNC stock opened at $181.91 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $71.64 billion, a P/E ratio of 11.75, a P/E/G ratio of 1.26 and a beta of 1.10. The business has a 50-day moving average of $197.28 and a 200-day moving average of $184.38. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.49 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $240.00 price target (up from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Bank of America increased their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.47.

About The PNC Financial Services Group

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.