PBMares Wealth Management LLC Makes New $284,000 Investment in The PNC Financial Services Group, Inc (NYSE:PNC)

PBMares Wealth Management LLC bought 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 disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,614 shares of the financial services provider's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Whipplewood Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $33,000. REAP Financial Group LLC grew its holdings in The PNC Financial Services Group by 67.2% during the fourth 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 during the period. Hoey Investments Inc. bought a new position in The PNC Financial Services Group during the fourth quarter worth about $39,000. Finally, True Wealth Design LLC increased its position in The PNC Financial Services Group by 41.5% during the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after buying an additional 59 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded up $1.30 during mid-day trading on Tuesday, hitting $182.05. 1,683,439 shares of the stock traded hands, compared to its average volume of 2,363,151. 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 company has a market cap of $72.01 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The firm has a 50 day simple moving average of $169.62 and a two-hundred day simple moving average of $180.58.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities research analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.52%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods reduced their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research note on Wednesday, April 16th. Royal Bank Of Canada reduced their price objective on shares of 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. Citigroup dropped their price objective 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 report on Monday, March 24th. Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $202.67.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director now owns 2,009 shares of the company's stock, valued at $317,863.98. This represents a 99.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $174.78, for a total transaction of $217,076.76. Following the transaction, the chief executive officer now directly owns 564,815 shares in the company, valued at $98,718,365.70. The trade was a 0.22% 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 worth $2,099,398 over the last ninety days. 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.