The PNC Financial Services Group, Inc (NYSE:PNC) Shares Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,842 shares of the financial services provider’s stock after buying an additional 416 shares during the period. Stratos Wealth Partners LTD.’s holdings in The PNC Financial Services Group were worth $8,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in The PNC Financial Services Group during the fourth quarter worth $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $739,000. Premier Fund Managers Ltd boosted its stake in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after buying an additional 13,700 shares during the last quarter. PKS Advisory Services LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $357,000. Finally, Kingswood Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 4.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider’s stock worth $493,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president directly owned 20,490 shares of the company’s stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the transaction, the chief executive officer directly owned 554,879 shares of the company’s stock, valued at $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,186 shares of company stock valued at $1,686,634 in the last three months. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PNC. Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Citigroup reduced 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 report on Monday, March 24th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $207.11.

The PNC Financial Services Group Price Performance

PNC stock opened at $198.22 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $78.41 billion, a PE ratio of 14.00, a P/E/G ratio of 1.65 and a beta of 1.07. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The business’s fifty day moving average price is $177.31 and its 200 day moving average price is $180.07.

The PNC Financial Services Group (NYSE:PNC) last posted 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 firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.43%. 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 payout ratio is presently 45.20%.

The PNC Financial Services Group Company 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.