Buck Wealth Strategies 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 13F filing with the Securities and Exchange Commission. The fund acquired 6,545 shares of the financial services provider's stock, valued at approximately $1,150,000.
A number of other large investors have also made changes to their positions in the stock. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $32,000. Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $35,000. REAP Financial Group LLC grew its holdings 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 worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Hoey Investments Inc. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 83.53% of the company's stock.
Wall Street Analyst Weigh In
PNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their target price on shares of 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. TD Cowen started coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 price target for the company. Royal Bank Of Canada lowered their price objective on 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. Finally, HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.
Read Our Latest Analysis on PNC
Insider Activity
In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now directly owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 641 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $155.27, for a total transaction of $99,528.07. Following the sale, the chief executive officer now directly owns 564,174 shares of the company's stock, valued at approximately $87,599,296.98. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock valued at $2,099,398 over the last three months. 0.41% of the stock is owned by insiders.
The PNC Financial Services Group Price Performance
Shares of PNC stock traded up $0.53 during trading hours on Wednesday, hitting $182.55. 2,402,015 shares of the company's stock were exchanged, compared to its average volume of 2,082,264. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The stock has a market cap of $72.21 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The stock's 50-day moving average is $170.16 and its 200-day moving average is $180.59.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The business 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. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. The PNC Financial Services Group's payout ratio is 45.20%.
About The PNC Financial Services Group
(
Free Report)
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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