PNC Financial Services Group Inc. Acquires 9,279 Shares of The PNC Financial Services Group, Inc $PNC

PNC Financial Services Group Inc. grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 0.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,469,922 shares of the financial services provider’s stock after buying an additional 9,279 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The PNC Financial Services Group were worth $306,817,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Westfuller Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $34,000. Beacon Financial Strategies CORP bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $35,000. JPL Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $39,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Barclays boosted 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 note on Thursday, April 16th. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $243.11.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the company’s 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 approximately $127,970,781.12. This represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2%

Shares of The PNC Financial Services Group stock opened at $213.24 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 12-month low of $169.32 and a 12-month high of $243.94. The firm has a market capitalization of $85.63 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.89 and a beta of 0.94. The firm’s 50 day simple moving average is $213.63 and its two-hundred day simple moving average is $211.19.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (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 analyst estimates of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 EPS. The PNC Financial Services Group’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

The PNC Financial Services Group Profile

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.