Middleton & Co. Inc. MA decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,386 shares of the financial services provider's stock after selling 205 shares during the quarter. Middleton & Co. Inc. MA's holdings in The PNC Financial Services Group were worth $2,901,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in PNC. ACG Wealth acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Citizens National Bank Trust Department acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $28,000. Mascoma Wealth Management LLC raised its stake in The PNC Financial Services Group by 89.8% in the 1st quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 79 shares during the last quarter. Guardian Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Win Advisors Inc. raised its stake in The PNC Financial Services Group by 61.0% in the 2nd quarter. Win Advisors Inc. now owns 198 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 81.89% of the company's stock.
Get The PNC Financial Services Group alerts:Insiders Place Their Bets
In other The PNC Financial Services Group news, EVP Michael P. Lyons sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $166.96, for a total value of $584,360.00. Following the completion of the transaction, the executive vice president now owns 174,651 shares in the company, valued at approximately $29,159,730.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Jefferies Financial Group lowered their price target on The PNC Financial Services Group from $188.00 to $156.00 in a report on Monday, July 11th. Piper Sandler set a $160.00 price target on The PNC Financial Services Group in a report on Tuesday, July 19th. Raymond James cut The PNC Financial Services Group from an "outperform" rating to a "market perform" rating in a report on Thursday, July 7th. Finally, Evercore ISI set a $175.00 price target on The PNC Financial Services Group in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $197.78.The PNC Financial Services Group Stock Down 0.9 %
Shares of NYSE:PNC opened at $149.42 on Friday. The stock has a market capitalization of $61.28 billion, a P/E ratio of 11.69, a PEG ratio of 2.25 and a beta of 1.21. The PNC Financial Services Group, Inc. has a 1 year low of $146.39 and a 1 year high of $228.14. The stock has a 50-day simple moving average of $162.90 and a 200-day simple moving average of $167.30. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.75 and a current ratio of 0.75.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $0.31. The firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.13 billion. The PNC Financial Services Group had a return on equity of 11.93% and a net margin of 27.32%. The PNC Financial Services Group's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.50 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 14.47 earnings per share for the current year.
The PNC Financial Services Group Company Profile
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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.
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