Beacon Pointe Advisors LLC Has $1.23 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Beacon Pointe Advisors LLC cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 75.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,789 shares of the financial services provider’s stock after selling 24,250 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PNC. BlackRock Inc. grew its position in shares of The PNC Financial Services Group by 2.0% in the 1st quarter. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock valued at $5,637,484,000 after purchasing an additional 589,293 shares during the period. Deutsche Bank AG grew its position in shares of The PNC Financial Services Group by 22.9% in the 2nd quarter. Deutsche Bank AG now owns 2,089,735 shares of the financial services provider’s stock valued at $329,698,000 after purchasing an additional 389,958 shares during the period. Vanguard Group Inc. grew its position in shares of The PNC Financial Services Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 37,277,399 shares of the financial services provider’s stock valued at $6,875,816,000 after purchasing an additional 349,470 shares during the period. Aaron Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 20,171.4% in the 1st quarter. Aaron Wealth Advisors LLC now owns 206,768 shares of the financial services provider’s stock valued at $1,121,000 after purchasing an additional 205,748 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of The PNC Financial Services Group by 31.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 837,508 shares of the financial services provider’s stock valued at $132,134,000 after purchasing an additional 198,410 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.9 %

NYSE PNC opened at $166.50 on Thursday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $228.14. The stock has a 50 day moving average of $157.37 and a 200-day moving average of $160.93. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.17. The company has a market cap of $67.15 billion, a PE ratio of 12.56, a PEG ratio of 2.47 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.09. The PNC Financial Services Group had a return on equity of 12.45% and a net margin of 26.96%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the business earned $3.75 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 14.43 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, November 5th. Shareholders of record on Monday, October 17th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Friday, October 14th. The PNC Financial Services Group’s payout ratio is 45.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PNC shares. StockNews.com started coverage on The PNC Financial Services Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley reduced their price target on The PNC Financial Services Group from $180.00 to $172.00 and set an “underweight” rating for the company in a research report on Wednesday, October 5th. Compass Point reduced their price target on The PNC Financial Services Group to $160.00 in a research report on Thursday, October 20th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $162.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 4th. Finally, JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $191.00 to $171.50 in a research report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $188.56.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Guild Deborah sold 2,833 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $159.66, for a total transaction of $452,316.78. Following the transaction, the executive vice president now owns 20,527 shares in the company, valued at approximately $3,277,340.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

The PNC Financial Services Group 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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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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