Richard C. Young & CO. LTD. Increases Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Richard C. Young & CO. LTD. increased its stake in The PNC Financial Services Group by 5.4% to 89,058 shares (worth $18.59M), making PNC about 1.7% of its portfolio and its 26th-largest holding; overall institutional ownership of PNC is roughly 83.5%.
• PNC reported better-than-expected EPS of $4.32 (vs. $3.92 consensus) with revenue up 13.1% YoY to $6.17B (slightly below estimates), announced a $1.70 quarterly dividend (3.1% yield), and carries a MarketBeat consensus rating of "Moderate Buy" with a $241.69 target.

Richard C. Young & CO. LTD. lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,058 shares of the financial services provider's stock after buying an additional 4,595 shares during the quarter. The PNC Financial Services Group makes up approximately 1.7% of Richard C. Young & CO. LTD.'s portfolio, making the stock its 26th biggest holding. Richard C. Young & CO. LTD.'s holdings in The PNC Financial Services Group were worth $18,589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock worth $539,000 after buying an additional 46 shares in the last quarter. Westfuller Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 26.9% in the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock worth $45,000 after buying an additional 46 shares in the last quarter. Almanack Investment Partners LLC. lifted its holdings in shares of The PNC Financial Services Group by 2.2% in the fourth quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider's stock worth $490,000 after buying an additional 50 shares in the last quarter. PUREfi Wealth LLC lifted its holdings in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. PUREfi Wealth LLC now owns 2,305 shares of the financial services provider's stock worth $481,000 after buying an additional 53 shares in the last quarter. Finally, Optas LLC lifted its holdings in shares of The PNC Financial Services Group by 3.8% in the fourth quarter. Optas LLC now owns 1,445 shares of the financial services provider's stock worth $302,000 after buying an additional 53 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 2.3%

Shares of NYSE PNC opened at $219.97 on Friday. The PNC Financial Services Group, Inc has a one year low of $156.70 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.83 and a quick ratio of 0.82. The firm's 50 day simple moving average is $214.70 and its two-hundred day simple moving average is $207.52. The stock has a market capitalization of $88.73 billion, a P/E ratio of 12.78, a PEG ratio of 0.94 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the business earned $3.51 earnings per share. The business's quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that The PNC Financial Services Group, Inc will post 18.79 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. This trade represents a 79.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. The trade was a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,186 shares of company stock valued at $14,840,973 over the last ninety days. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PNC shares. Barclays upped their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $251.00 to $237.50 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Oppenheimer upped their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Royal Bank Of Canada restated an "outperform" rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Finally, TD Cowen upped their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. One equities research 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $241.69.

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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