Sound Income Strategies LLC Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sound Income Strategies LLC lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 480.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 511 shares of the financial services provider’s stock after acquiring an additional 423 shares during the quarter. Sound Income Strategies LLC’s holdings in The PNC Financial Services Group were worth $81,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. West Financial Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the third quarter worth approximately $26,000. Standard Family Office LLC bought a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $30,000. Ten Capital Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 587.1% during the third quarter. Ten Capital Wealth Advisors LLC now owns 213 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 182 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of The PNC Financial Services Group by 2.5% during the third quarter. Carolinas Wealth Consulting LLC now owns 4,072 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 101 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $41,000. 82.05% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 4.9 %

NYSE:PNC opened at $123.72 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $120.95 and a 12 month high of $199.43. The firm has a fifty day simple moving average of $155.20 and a 200-day simple moving average of $156.90. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $49.45 billion, a P/E ratio of 8.92, a PEG ratio of 1.10 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC – Get Rating) last posted its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $3.49 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.46). The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The company had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 14.66 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Stockholders of record on Tuesday, January 17th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, January 13th. This represents a $6.00 annualized dividend and a dividend yield of 4.85%. The PNC Financial Services Group’s payout ratio is currently 43.26%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $129.70 per share, with a total value of $129,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 525,349 shares in the company, valued at approximately $68,137,765.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak bought 6,550 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 20th. The stock was purchased at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the acquisition, the chief executive officer now directly owns 482,924 shares in the company, valued at approximately $74,070,883.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average cost of $129.70 per share, with a total value of $129,700.00. Following the acquisition, the chief executive officer now owns 525,349 shares of the company’s stock, valued at $68,137,765.30. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of The PNC Financial Services Group from $222.00 to $218.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 3rd. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $176.27 price objective on the stock in a research note on Tuesday, January 10th. Citigroup upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Monday, March 13th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $150.00 to $164.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Finally, StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $180.36.

About The PNC Financial Services Group

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The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.