Asio Capital LLC Acquires 10,250 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Asio Capital LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 697.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,720 shares of the financial services provider’s stock after purchasing an additional 10,250 shares during the period. Asio Capital LLC’s holdings in The PNC Financial Services Group were worth $2,260,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $25,000. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $30,000. Valley Wealth Managers Inc. grew its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $51,000. Finally, Quarry LP grew its holdings in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $199.49 on Friday. The firm has a market capitalization of $79.15 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The business’s 50-day moving average price is $200.29 and its 200-day moving average price is $188.42.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the business earned $3.16 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,171 shares of company stock worth $5,777,926. 0.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

PNC has been the topic of several research reports. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Citigroup lifted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $205.00.

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.