Focus Partners Wealth Has $149.35 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Focus Partners Wealth boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 233.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 715,700 shares of the financial services provider’s stock after purchasing an additional 500,994 shares during the quarter. Focus Partners Wealth owned about 0.18% of The PNC Financial Services Group worth $149,346,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of The PNC Financial Services Group by 415.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 880,602 shares of the financial services provider’s stock worth $183,808,000 after purchasing an additional 709,912 shares during the period. Icon Wealth Advisors LLC raised its position in shares of The PNC Financial Services Group by 3.4% during the fourth quarter. Icon Wealth Advisors LLC now owns 12,319 shares of the financial services provider’s stock worth $2,553,000 after purchasing an additional 406 shares during the period. Entropy Technologies LP acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $3,563,000. Ariadne Wealth Management LP raised its position in shares of The PNC Financial Services Group by 7.2% during the fourth quarter. Ariadne Wealth Management LP now owns 1,880 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 127 shares during the period. Finally, Basswood Capital Management L.L.C. raised its position in shares of The PNC Financial Services Group by 2.8% during the fourth quarter. Basswood Capital Management L.L.C. now owns 154,712 shares of the financial services provider’s stock worth $32,293,000 after purchasing an additional 4,217 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.5%

PNC opened at $237.51 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The company’s 50-day moving average is $220.85 and its 200 day moving average is $216.10. The PNC Financial Services Group, Inc has a fifty-two week low of $172.73 and a fifty-two week high of $243.94. The firm has a market capitalization of $95.37 billion, a P/E ratio of 13.80, a PEG ratio of 0.99 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company earned $3.51 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Oppenheimer raised their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Citigroup raised their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One equities 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. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the business’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 transaction, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is owned by insiders.

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.