B. Riley Wealth Advisors Inc. Has $1.90 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

B. Riley Wealth Advisors Inc. reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,384 shares of the financial services provider’s stock after selling 1,026 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. ORG Partners LLC increased its position in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the period. Brookstone Capital Management increased its position in The PNC Financial Services Group by 7.8% in the 2nd quarter. Brookstone Capital Management now owns 13,639 shares of the financial services provider’s stock valued at $2,121,000 after acquiring an additional 989 shares during the period. Western Wealth Management LLC increased its position in The PNC Financial Services Group by 13.9% in the 2nd quarter. Western Wealth Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 241 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in The PNC Financial Services Group by 11.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,507 shares of the financial services provider’s stock valued at $1,945,000 after acquiring an additional 1,332 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group by 8.7% in the 2nd quarter. Apollon Wealth Management LLC now owns 25,954 shares of the financial services provider’s stock valued at $4,035,000 after purchasing an additional 2,082 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $183.74, for a total transaction of $228,205.08. Following the sale, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,873,691 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $200.81.

The PNC Financial Services Group Price Performance

PNC stock opened at $201.50 on Monday. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The firm has a market capitalization of $79.95 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average of $198.84 and a 200-day moving average of $180.33.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.