Wealthspire Advisors LLC Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealthspire Advisors LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,033 shares of the financial services provider’s stock after acquiring an additional 124 shares during the period. Wealthspire Advisors LLC’s holdings in The PNC Financial Services Group were worth $934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Gradient Investments LLC boosted its position in shares of The PNC Financial Services Group by 59.9% during the 3rd quarter. Gradient Investments LLC now owns 635 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 238 shares during the last quarter. Dubuque Bank & Trust Co increased its holdings in shares of The PNC Financial Services Group by 4.7% during the 3rd quarter. Dubuque Bank & Trust Co now owns 2,801 shares of the financial services provider’s stock worth $344,000 after buying an additional 127 shares during the last quarter. ING Groep NV purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $182,000. Carmel Capital Partners LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at approximately $40,000. Finally, Assetmark Inc. grew its position in The PNC Financial Services Group by 14.3% in the third quarter. Assetmark Inc. now owns 59,625 shares of the financial services provider’s stock worth $7,320,000 after acquiring an additional 7,456 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 $5,442,347.40. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.7 %

The PNC Financial Services Group stock traded up $1.09 during trading on Friday, reaching $158.21. The stock had a trading volume of 33,198 shares, compared to its average volume of 2,011,303. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The stock has a market cap of $62.94 billion, a PE ratio of 13.19, a P/E/G ratio of 1.77 and a beta of 1.16. The business has a 50 day moving average price of $154.25 and a 200 day moving average price of $145.47.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.92%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PNC. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company raised their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.02.

About The PNC Financial Services Group

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.