Armis Advisers LLC Takes $530,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Armis Advisers LLC purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,750 shares of the financial services provider's stock, valued at approximately $530,000.

Other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. boosted its position in The PNC Financial Services Group by 2,333.3% during the fourth 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 during the period. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Whipplewood Advisors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth $33,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group in the 4th quarter worth $37,000. Institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average price 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 in the company, valued at $317,863.98. The trade was 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 hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 554,879 shares in the company, valued at $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,396 shares of company stock worth $2,747,698 over the last quarter. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 0.7%

The PNC Financial Services Group stock traded down $1.24 during mid-day trading on Friday, hitting $173.86. The company had a trading volume of 4,156,404 shares, compared to its average volume of 2,061,832. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. 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 stock's 50 day moving average price is $165.13 and its two-hundred day moving average price is $184.90. The company has a market capitalization of $68.77 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company reduced their target price 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. TD Cowen began 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 for the company. Barclays cut their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.