Connecticut Wealth Management LLC Buys 84 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Connecticut Wealth Management LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,372 shares of the financial services provider’s stock after purchasing an additional 84 shares during the period. Connecticut Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. OFI Invest Asset Management bought a new stake in The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its holdings in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $0.55 during mid-day trading on Monday, hitting $156.77. The stock had a trading volume of 432,898 shares, compared to its average volume of 2,049,434. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The stock has a market capitalization of $62.36 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.77 and a beta of 1.16. The firm’s 50 day moving average is $153.58 and its 200 day moving average is $144.79. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.98 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.95%. The PNC Financial Services Group’s payout ratio is 52.06%.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $157.02.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.42% of the company’s stock.

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.