The PNC Financial Services Group, Inc (NYSE:PNC) Shares Purchased by KG&L Capital Management LLC

KG&L Capital Management LLC grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 100.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,750 shares of the financial services provider’s stock after purchasing an additional 3,390 shares during the period. KG&L Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PNC. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $32,000. Whipplewood Advisors LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $33,000. REAP Financial Group LLC raised its position in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Hoey Investments Inc. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $39,000. Finally, True Wealth Design LLC lifted its holdings in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $182.55 on Thursday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The business’s fifty day moving average is $170.79 and its two-hundred day moving average is $180.61. The stock has a market capitalization of $72.21 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.53 and a beta of 1.06. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.51%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 601 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 563,573 shares in the company, valued at approximately $90,171,680. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director now directly owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 12,670 shares of company stock valued at $2,099,398. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on 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. Barclays lowered 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 report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Keefe, Bruyette & Woods reduced their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

The PNC Financial Services Group 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.