Shepherd Financial Partners LLC Makes New Investment in The PNC Financial Services Group, Inc $PNC

Shepherd Financial Partners LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,211 shares of the financial services provider’s stock, valued at approximately $544,000.

A number of other large investors have also made changes to their positions in PNC. Brighton Jones LLC increased its holdings in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC lifted its position in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after acquiring an additional 170 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 1,449 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of The PNC Financial Services Group by 1.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $482,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer lifted their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Robert W. Baird upped their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. raised their price target on The PNC Financial Services Group from $264.50 to $269.50 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Argus lifted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.73.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $246.56 on Thursday. The business’s fifty day moving average price is $248.01 and its two-hundred day moving average price is $229.11. The stock has a market cap of $98.36 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.01 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $258.96.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the firm posted $3.85 earnings per share. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, analysts forecast that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

Insider Activity

In related news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 51,654 shares of company stock worth $11,552,661. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.