D.A. Davidson & CO. Purchases 6,856 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• D.A. Davidson & Co. increased its stake in The PNC Financial Services Group by 6.4%, purchasing 6,856 shares to hold 114,359 shares valued at about $23.87 million per its latest SEC filing.
• Company insiders sold a net 64,186 shares this quarter, including CEO William S. Demchak's sale of 50,000 shares for roughly $11.54 million, leaving insiders with about 0.38% ownership.
• PNC beat quarterly EPS estimates at $4.32 (vs. $3.92 expected), reported revenue up 13.1% year‑over‑year, declared a $1.70 quarterly dividend (3.1% yield), and holds an average analyst rating of "Moderate Buy" with a $241.69 target.

D.A. Davidson & CO. lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 114,359 shares of the financial services provider's stock after purchasing an additional 6,856 shares during the period. D.A. Davidson & CO.'s holdings in The PNC Financial Services Group were worth $23,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its holdings in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 21,584 shares of the financial services provider's stock worth $4,505,000 after purchasing an additional 419 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of The PNC Financial Services Group by 16.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 276,653 shares of the financial services provider's stock worth $57,751,000 after purchasing an additional 38,252 shares during the last quarter. Facet Wealth Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $215,000. Advisors Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 6.3% in the fourth quarter. Advisors Capital Management LLC now owns 23,733 shares of the financial services provider's stock worth $4,954,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Golden State Equity Partners grew its holdings in shares of The PNC Financial Services Group by 11.8% in the fourth quarter. Golden State Equity Partners now owns 1,390 shares of the financial services provider's stock worth $290,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 50,000 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares in the company, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president owned 1,942 shares in the company, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 64,186 shares of company stock worth $14,840,973. Corporate insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PNC shares. Royal Bank Of Canada restated an "outperform" rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a report on Thursday, April 16th. TD Cowen lifted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, January 20th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $241.69.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $219.97 on Monday. The stock has a market cap of $88.73 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The firm's fifty day simple moving average is $214.70 and its 200 day simple moving average is $207.64. The PNC Financial Services Group, Inc has a twelve month low of $156.70 and a twelve month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. During the same quarter in the previous year, the business posted $3.51 earnings per share. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th 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 3.1%. The ex-dividend date is Tuesday, April 14th. The PNC Financial Services Group's payout ratio is 39.51%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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