Phillips Wealth Planners LLC Has $1.37 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Phillips Wealth Planners LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,197 shares of the financial services provider’s stock after buying an additional 158 shares during the period. The PNC Financial Services Group accounts for approximately 1.3% of Phillips Wealth Planners LLC’s holdings, making the stock its 13th biggest holding. Phillips Wealth Planners LLC’s holdings in The PNC Financial Services Group were worth $1,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PNC. ORG Partners LLC lifted its position in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the period. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at about $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $29,000. Finally, Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PNC shares. Barclays upped their target price on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $187.15 on Friday. The business has a 50 day simple moving average of $183.94 and a 200 day simple moving average of $169.34. The PNC Financial Services Group, Inc. has a 52-week low of $114.51 and a 52-week high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $74.39 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.02 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.60 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.42%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the transaction, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the completion of the sale, the chief executive officer now directly owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,279 shares of company stock valued at $2,418,591 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

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.