Cordatus Wealth Management LLC Buys New Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Key Points

• Cordatus Wealth Management LLC has acquired 1,500 shares in The PNC Financial Services Group, valued at approximately $264,000, as per their latest SEC filing.
• The PNC Financial Services Group recently declared a quarterly dividend of $1.70 per share, up from the previous $1.60, indicating a yield of 3.53%.
• Analysts have a consensus rating of "Moderate Buy" for PNC's stock, with a target price of $214.17, reflecting a range of ratings from sell to strong buy.

Cordatus Wealth Management LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,500 shares of the financial services provider's stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Davis R M Inc. boosted its position in shares of The PNC Financial Services Group by 33.6% in the 1st quarter. Davis R M Inc. now owns 2,308 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 581 shares during the period. Natixis Advisors LLC boosted its position in shares of The PNC Financial Services Group by 55.4% in the 1st quarter. Natixis Advisors LLC now owns 284,431 shares of the financial services provider's stock valued at $49,994,000 after purchasing an additional 101,429 shares during the period. Roble Belko & Company Inc boosted its position in shares of The PNC Financial Services Group by 16.5% in the 1st quarter. Roble Belko & Company Inc now owns 1,890 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 268 shares during the period. Tower Bridge Advisors boosted its position in shares of The PNC Financial Services Group by 15.7% in the 1st quarter. Tower Bridge Advisors now owns 14,599 shares of the financial services provider's stock valued at $2,566,000 after purchasing an additional 1,977 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $233,000. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC traded down $4.49 on Friday, hitting $185.78. The company had a trading volume of 2,639,255 shares, compared to its average volume of 2,465,934. The company's fifty day moving average price is $185.92 and its 200 day moving average price is $180.31. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. 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 stock has a market cap of $73.49 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the company earned $3.39 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared 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 represents a $6.80 dividend on an annualized basis 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 ex-dividend date is Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Royal Bank Of Canada decreased their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Citigroup raised their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley raised their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.17.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,218 shares of company stock valued at $900,918. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group 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.