Barlow Wealth Partners Inc. Purchases Shares of 10,174 The PNC Financial Services Group, Inc. (NYSE:PNC)

Barlow Wealth Partners Inc. acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,174 shares of the financial services provider’s stock, valued at approximately $1,575,000.

A number of other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of The PNC Financial Services Group by 22.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 139,150 shares of the financial services provider’s stock valued at $17,083,000 after acquiring an additional 25,304 shares during the period. Verdence Capital Advisors LLC raised its position in The PNC Financial Services Group by 21.6% in the third quarter. Verdence Capital Advisors LLC now owns 11,799 shares of the financial services provider’s stock valued at $1,449,000 after purchasing an additional 2,095 shares during the period. Hapanowicz & Associates Financial Services Inc lifted its stake in shares of The PNC Financial Services Group by 16.3% during the third quarter. Hapanowicz & Associates Financial Services Inc now owns 4,270 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 597 shares in the last quarter. AMF Tjanstepension AB boosted its position in shares of The PNC Financial Services Group by 4.3% in the third quarter. AMF Tjanstepension AB now owns 253,400 shares of the financial services provider’s stock worth $31,110,000 after buying an additional 10,464 shares during the period. Finally, IFM Investors Pty Ltd grew its stake in shares of The PNC Financial Services Group by 3.6% in the third quarter. IFM Investors Pty Ltd now owns 85,060 shares of the financial services provider’s stock valued at $10,443,000 after buying an additional 2,979 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded up $1.06 during trading on Wednesday, hitting $157.21. 1,254,443 shares of the company traded hands, compared to its average volume of 2,038,685. 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 business’s fifty day moving average is $154.02 and its 200-day moving average is $145.39. The stock has a market capitalization of $62.54 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business posted $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. As a group, equities analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PNC shares. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group raised their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Evercore ISI lowered their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Finally, Bank of America lifted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.02.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction 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 directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

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.