5,165 Shares in The PNC Financial Services Group, Inc $PNC Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, Holdings Channel.com reports. The firm purchased 5,165 shares of the financial services provider’s stock, valued at approximately $963,000.

A number of other institutional investors have also recently bought and sold shares of the company. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group during the 1st quarter valued at about $27,000. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group during the second quarter worth approximately $27,000. Concord Wealth Partners grew its holdings in The PNC Financial Services Group by 144.9% during the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. WPG Advisers LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the second quarter worth $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Raymond James Financial upped 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. Morgan Stanley raised their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Finally, Citigroup boosted their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.17.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $211.15 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $213.03. The stock has a market capitalization of $82.80 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a 50 day moving average of $188.62 and a 200-day moving average of $191.57.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 EPS. As a group, equities research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s payout ratio is currently 43.93%.

Insiders Place Their Bets

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

The PNC Financial Services Group 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.