Arkadios Wealth Advisors Has $1.89 Million Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Key Points

• Arkadios Wealth Advisors increased its stake in The PNC Financial Services Group by 32.1% during the first quarter, bringing its total holdings to $1.89 million.
• The PNC Financial Services Group plans to pay a quarterly dividend of $1.70 per share, a rise from the previous $1.60, resulting in an annualized dividend of $6.80 with a yield of 3.6%.
• Analysts are mixed on the stock, with Barclays and Royal Bank of Canada lowering their price targets, while TD Cowen initiated coverage with a "buy" rating and a target of $233.00.

Arkadios Wealth Advisors increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 32.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,750 shares of the financial services provider's stock after purchasing an additional 2,614 shares during the quarter. Arkadios Wealth Advisors' holdings in The PNC Financial Services Group were worth $1,890,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 65 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group in the first quarter worth $35,000. REAP Financial Group LLC increased its position in The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after buying an additional 80 shares during the period. True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in The PNC Financial Services Group in the first quarter valued at $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America raised their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Citigroup raised their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley raised their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Finally, TD Cowen initiated coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $4.49 during trading hours on Friday, hitting $185.78. 2,639,255 shares of the company were exchanged, compared to its average volume of 2,465,934. The company has a market capitalization of $73.49 billion, a PE ratio of 12.71, a PEG ratio of 1.38 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day simple moving average of $185.92 and a 200-day simple moving average of $180.31. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The company's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $3.39 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares of the company's stock, valued at $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,218 shares of company stock valued at $900,918. Corporate insiders own 0.41% of the company's stock.

About The PNC Financial Services Group

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.