Checchi Capital Advisers LLC Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Checchi Capital Advisers LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 22.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,755 shares of the financial services provider’s stock after purchasing an additional 873 shares during the period. Checchi Capital Advisers LLC’s holdings in The PNC Financial Services Group were worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PNC. Citizens National Bank Trust Department purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $28,000. Retirement Planning Co of New England Inc. purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Mascoma Wealth Management LLC boosted its position in The PNC Financial Services Group by 89.8% in the 1st quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider’s stock valued at $31,000 after buying an additional 79 shares during the period. Guardian Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Finally, Covestor Ltd purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $167.04 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.75. The stock has a market cap of $68.51 billion, a P/E ratio of 13.07, a PEG ratio of 2.41 and a beta of 1.21. The company has a 50-day moving average of $161.81 and a two-hundred day moving average of $177.72. The PNC Financial Services Group, Inc. has a 12-month low of $146.39 and a 12-month high of $228.14.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.13 billion. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.50 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 14.48 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Wednesday, July 13th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio is presently 46.95%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. Wolfe Research reduced their price objective on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Credit Suisse Group reduced their price objective on shares of The PNC Financial Services Group from $172.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, July 18th. Argus reduced their price objective on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Finally, Raymond James lowered shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $197.63.

The PNC Financial Services Group Profile

(Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

Further Reading

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.