Wealth Management Strategies Inc. Invests $429,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealth Management Strategies Inc. bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,224 shares of the financial services provider's stock, valued at approximately $429,000. The PNC Financial Services Group comprises 0.3% of Wealth Management Strategies Inc.'s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Richardson Financial Services Inc. lifted its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at $32,000. Whipplewood Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $33,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the sale, the chief executive officer now directly owns 556,121 shares in the company, valued at approximately $99,623,515.94. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,396 shares of company stock worth $2,773,072. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 2.5%

Shares of PNC traded up $4.34 during trading hours on Tuesday, hitting $176.16. 1,731,614 shares of the stock traded hands, compared to its average volume of 2,053,487. The business has a fifty day moving average of $165.09 and a 200-day moving average of $185.28. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $69.68 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is presently 45.20%.

Analyst Ratings Changes

Several equities analysts have weighed in on PNC shares. TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price on the stock. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada decreased 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. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Truist Financial reduced their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

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.