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

Key Points

• Brookwood Investment Group LLC has acquired 1,952 shares of The PNC Financial Services Group, valued at approximately $343,000, marking a new investment in the financial services firm during the first quarter.
• The PNC Financial Services Group recently reported $3.85 earnings per share for the quarter, surpassing analysts' expectations and showing a 4.6% year-over-year revenue increase.
• The company announced a quarterly dividend increase to $1.70 per share, reflecting a 3.47% yield and signaling its strong financial performance.

Brookwood Investment Group LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,952 shares of the financial services provider's stock, valued at approximately $343,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Cornerstone Planning Group LLC raised its stake in The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $35,000. REAP Financial Group LLC increased its stake in shares of 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 valued at $38,000 after purchasing an additional 80 shares during the period. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $39,000. Finally, True Wealth Design LLC increased its stake in shares of 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 purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC traded down $0.20 during trading on Friday, hitting $195.95. The stock had a trading volume of 1,817,324 shares, compared to its average volume of 2,743,946. The firm has a market cap of $77.51 billion, a PE ratio of 13.40, a P/E/G ratio of 1.46 and a beta of 1.07. 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 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $184.26 and a 200-day simple moving average of $180.28.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.39 EPS. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS 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 issued a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.47%. The PNC Financial Services Group's payout ratio is presently 46.51%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Bank of America raised their price objective on shares of 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. Royal Bank Of Canada reduced their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $212.76.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the business'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 owned 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,061 shares of company stock worth $1,199,723. 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.