Glass Jacobson Investment Advisors llc Sells 111 Shares of The PNC Financial Services Group, Inc $PNC

Glass Jacobson Investment Advisors llc lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 402 shares of the financial services provider’s stock after selling 111 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in The PNC Financial Services Group were worth $75,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PNC. Saudi Central Bank purchased a new position in shares of The PNC Financial Services Group in the first quarter valued at $27,000. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group in the 2nd quarter worth about $27,000. Concord Wealth Partners grew its holdings in The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Cornerstone Planning Group LLC increased its position in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 65 shares during the period. Finally, WPG Advisers LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth about $36,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $186.38 on Friday. The stock has a market capitalization of $73.40 billion, a P/E ratio of 12.04, a PEG ratio of 1.30 and a beta of 1.10. The company has a current ratio of 0.81, a quick 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 stock has a 50-day moving average price of $197.18 and a 200-day moving average price of $184.89.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the company posted $3.49 EPS. The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts predict 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 firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Saturday. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Evercore ISI lifted their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley raised their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

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.