Cary Street Partners Financial LLC Invests $1.75 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cary Street Partners Financial LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,059 shares of the financial services provider's stock, valued at approximately $1,747,000.

Several other hedge funds also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Institutional investors own 83.53% of the company's stock.

Insider Activity

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the sale, the chief executive officer now directly owns 569,783 shares of the company's stock, valued at $108,361,330.94. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,662 shares of company stock worth $2,322,006 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 1.2 %

NYSE:PNC opened at $163.75 on Wednesday. The firm has a 50-day simple moving average of $166.03 and a 200-day simple moving average of $187.01. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The firm has a market cap of $64.80 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.91%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PNC shares. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada lowered their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $200.88.

The PNC Financial Services Group Company 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.

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