Wealth Management Partners LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealth Management Partners LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,855 shares of the financial services provider's stock, valued at approximately $678,000.

Several other large investors have also modified their holdings of PNC. Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $32,000. Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $33,000. REAP Financial Group LLC lifted its stake in 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 acquiring an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $39,000. Finally, True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer now directly owns 554,879 shares of the company's stock, valued at $94,190,710.25. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 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. In the last 90 days, insiders have sold 15,154 shares of company stock worth $2,525,591. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 2.3%

Shares of PNC traded up $4.02 during mid-day trading on Friday, reaching $178.72. The company's stock had a trading volume of 1,326,804 shares, compared to its average volume of 2,061,830. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The stock has a market cap of $70.70 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50 day moving average is $165.16 and its 200 day moving average is $183.26.

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 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 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Equities analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued 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 3.58%. The PNC Financial Services Group's payout ratio is currently 45.20%.

Analysts Set New Price Targets

Several research firms recently issued reports on PNC. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Truist Financial decreased their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. TD Cowen assumed coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $202.67.

About The PNC Financial Services Group

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.