The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Bogart Wealth LLC

Bogart Wealth LLC lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 14.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,900 shares of the financial services provider’s stock after buying an additional 8,222 shares during the period. Bogart Wealth LLC’s holdings in The PNC Financial Services Group were worth $11,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $739,000. Premier Fund Managers Ltd increased its holdings in The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after purchasing an additional 13,700 shares during the last quarter. PKS Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $357,000. Finally, Exane Asset Management increased its holdings in The PNC Financial Services Group by 32.9% in the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider’s stock valued at $28,434,000 after purchasing an additional 37,110 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $196.98 on Monday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $179.40 and a 200-day simple moving average of $180.03. The stock has a market capitalization of $77.92 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.66 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, analysts predict 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. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares of the company’s stock, valued at $317,863.98. This represents a 99.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $210,829.50. Following the transaction, the chief executive officer owned 554,879 shares in the company, 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. Over the last three months, insiders have sold 9,545 shares of company stock worth $1,590,080. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PNC. Royal Bank Of Canada dropped their price target 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 note on Wednesday, April 16th. Barclays dropped their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Finally, Raymond James Financial raised shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.11.

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.