Focus Partners Advisor Solutions LLC Has $5.92 Million Holdings in The PNC Financial Services Group, Inc $PNC

Focus Partners Advisor Solutions LLC boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,747 shares of the financial services provider’s stock after buying an additional 2,394 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in The PNC Financial Services Group were worth $5,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Sage Mountain Advisors LLC boosted its holdings in The PNC Financial Services Group by 16.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,028 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 292 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in The PNC Financial Services Group by 3.0% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 990,217 shares of the financial services provider’s stock valued at $184,596,000 after purchasing an additional 29,060 shares during the period. West Michigan Advisors LLC boosted its holdings in The PNC Financial Services Group by 4.3% in the 2nd quarter. West Michigan Advisors LLC now owns 3,012 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 124 shares during the period. Catalyst Capital Advisors LLC bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at $84,000. Finally, Asset Management One Co. Ltd. boosted its holdings in The PNC Financial Services Group by 0.9% in the 2nd quarter. Asset Management One Co. Ltd. now owns 169,844 shares of the financial services provider’s stock valued at $31,662,000 after purchasing an additional 1,488 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PNC. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. UBS Group increased their price target on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Oppenheimer reissued an “outperform” rating and issued a $240.00 target price (up previously from $235.00) on shares of The PNC Financial Services Group in a research note on Thursday, October 16th. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

The PNC Financial Services Group Stock Up 2.4%

Shares of PNC opened at $186.38 on Friday. The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.27 and a beta of 1.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a 50-day moving average price of $197.18 and a two-hundred day moving average price of $184.64.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the firm posted $3.49 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

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.