Lido Advisors LLC Purchases 498,123 Shares of The PNC Financial Services Group, Inc $PNC

Lido Advisors LLC raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3,211.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513,633 shares of the financial services provider’s stock after acquiring an additional 498,123 shares during the period. Lido Advisors LLC’s holdings in The PNC Financial Services Group were worth $106,882,000 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 recently modified their holdings of PNC. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group in the fourth quarter worth $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $29,000. Financial Life Planners bought a new position in The PNC Financial Services Group during the first quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC grew its stake in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after buying an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Up 1.0%

PNC stock opened at $252.79 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.29. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $256.49. The stock has a market capitalization of $101.51 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The firm’s fifty day simple moving average is $235.44 and its two-hundred day simple moving average is $224.42.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.39. The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 earnings per share. As a group, analysts anticipate that The PNC Financial Services Group, Inc will post 19.14 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is currently 44.03%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock valued at $10,694,574 in the last ninety days. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNC. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Stephens boosted their price objective on The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Argus upped their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.50.

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.