Patrick M Sweeney & Associates Inc. Has $665,000 Stock Position in The PNC Financial Services Group, Inc $PNC

Patrick M Sweeney & Associates Inc. boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 12.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,385 shares of the financial services provider’s stock after buying an additional 372 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in The PNC Financial Services Group were worth $665,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Saudi Central Bank acquired a new position in The PNC Financial Services Group in the first quarter valued at approximately $27,000. Concord Wealth Partners lifted its holdings in The PNC Financial Services Group by 144.9% in the second 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 during the period. FNY Investment Advisers LLC bought a new position in The PNC Financial Services Group in the second quarter valued at approximately $37,000. Finally, WPG Advisers LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth $36,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on PNC shares. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Oppenheimer decreased their price objective on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Raymond James Financial increased their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Truist Financial raised their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley upped their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

The PNC Financial Services Group Stock Down 0.3%

NYSE:PNC opened at $191.96 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $75.28 billion, a PE ratio of 12.40, a PEG ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The stock has a 50-day simple moving average of $188.77 and a 200 day simple moving average of $189.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the previous year, the business posted $3.49 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company 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.