Beacon Financial Advisory LLC Makes New Investment in The PNC Financial Services Group, Inc (NYSE:PNC)

Beacon Financial Advisory LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,277 shares of the financial services provider's stock, valued at approximately $400,000.

Other hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Whipplewood Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $33,000. REAP Financial Group LLC grew its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 80 shares during the period. Hoey Investments Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $39,000. Finally, True Wealth Design LLC grew its position in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 59 shares during the period. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Wells Fargo & Company cut their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. 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. Royal Bank Of Canada lowered their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Citigroup lowered their target price 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 note on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.67.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $155.27, for a total transaction of $99,528.07. Following the transaction, the chief executive officer now directly owns 564,174 shares in the company, valued at approximately $87,599,296.98. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,428 shares of company stock worth $1,882,322. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.2%

Shares of NYSE PNC opened at $185.92 on Friday. The firm's 50-day moving average price is $172.14 and its 200-day moving average price is $180.35. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $73.55 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.56 and a beta of 1.06. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is 45.20%.

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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