Jones Financial Companies Lllp Increases Stake in The PNC Financial Services Group, Inc $PNC

Jones Financial Companies Lllp boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 20.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 47,367 shares of the financial services provider’s stock after acquiring an additional 8,190 shares during the period. Jones Financial Companies Lllp’s holdings in The PNC Financial Services Group were worth $9,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $27,000. Concord Wealth Partners lifted its position in shares of 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 worth $32,000 after acquiring an additional 100 shares in the last quarter. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the third quarter worth $34,000. FNY Investment Advisers LLC bought a new position in shares of The PNC Financial Services Group in the second quarter worth $37,000. Finally, Bayforest Capital Ltd grew its position in shares of The PNC Financial Services Group by 237.1% in the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $237.25 on Thursday. The firm has a 50 day simple moving average of $212.93 and a two-hundred day simple moving average of $199.92. The stock has a market cap of $93.04 billion, a PE ratio of 14.30, a P/E/G ratio of 0.98 and a beta of 0.99. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $240.37. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.77 EPS. On average, analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PNC shares. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Barclays upped their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $231.00.

About The PNC Financial Services Group

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.