Marble Wealth LLC Acquires New Shares in The PNC Financial Services Group, Inc $PNC

Marble Wealth LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,457 shares of the financial services provider’s stock, valued at approximately $513,000.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in The PNC Financial Services Group during the third quarter valued at about $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $35,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth about $37,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth about $39,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of The PNC Financial Services Group by 2,100.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.1%

Shares of PNC opened at $218.52 on Thursday. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $87.75 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 0.92 and a beta of 0.92. The stock’s 50-day moving average price is $217.24 and its 200 day moving average price is $213.95.

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 the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $3.51 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PNC. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Citigroup boosted their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Bank of America boosted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.