SevenBridge Financial Group LLC Buys 1,035 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

SevenBridge Financial Group LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 6.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,731 shares of the financial services provider’s stock after purchasing an additional 1,035 shares during the period. The PNC Financial Services Group comprises about 1.1% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 28th biggest position. SevenBridge Financial Group LLC’s holdings in The PNC Financial Services Group were worth $2,640,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Citizens National Bank Trust Department purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Guardian Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Mascoma Wealth Management LLC raised its holdings 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 worth $31,000 after purchasing an additional 79 shares during the period. Covestor Ltd purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $40,000. Finally, Baltimore Washington Financial Advisors Inc. bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $227,000. 81.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael P. Lyons sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $166.96, for a total value of $584,360.00. Following the sale, the executive vice president now directly owns 174,651 shares in the company, valued at approximately $29,159,730.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNC. Wells Fargo & Company cut their price objective on The PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Credit Suisse Group dropped their target price on shares of The PNC Financial Services Group from $172.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, July 18th. Piper Sandler set a $160.00 price objective on shares of The PNC Financial Services Group in a research report on Tuesday, July 19th. Raymond James downgraded shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a report on Thursday, July 7th. Finally, Wolfe Research dropped their price objective on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $197.78.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE PNC opened at $163.83 on Monday. The stock has a 50 day moving average price of $163.53 and a 200 day moving average price of $169.12. The firm has a market capitalization of $67.19 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.45 and a beta of 1.21. The PNC Financial Services Group, Inc. has a 52-week low of $146.39 and a 52-week high of $228.14. 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:PNCGet Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.31. The PNC Financial Services Group had a return on equity of 11.93% and a net margin of 27.32%. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the company posted $4.50 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 14.5 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.95%.

The PNC Financial Services Group Company Profile

(Get Rating)

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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