The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Lifted by Focus Partners Wealth

Focus Partners Wealth grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,877 shares of the financial services provider’s stock after acquiring an additional 1,402 shares during the quarter. Focus Partners Wealth owned approximately 0.05% of The PNC Financial Services Group worth $39,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PNC. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $30,000. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. This trade represents a 99.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $192.45, for a total transaction of $239,022.90. Following the sale, the chief executive officer now directly owns 571,025 shares in the company, valued at approximately $109,893,761.25. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,662 shares of company stock valued at $2,322,006. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $166.44 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day moving average is $164.74 and its 200-day moving average is $186.57. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The stock has a market capitalization of $65.84 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.85%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. The Goldman Sachs Group cut their target price on 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. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $200.88.

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.