Pines Wealth Management LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pines Wealth Management LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,987 shares of the financial services provider’s stock after purchasing an additional 332 shares during the period. Pines Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $33,000. REAP Financial Group LLC increased its position in shares of The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $39,000. Finally, True Wealth Design LLC lifted its position in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 563,573 shares in the company, valued at approximately $90,171,680. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,154 shares of company stock valued at $2,525,591 over the last three months. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNC shares. TD Cowen assumed coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. Barclays cut their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Citigroup lowered their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, Morgan Stanley reduced their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.67.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $178.72 on Friday. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The stock has a market capitalization of $70.70 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.55 and a beta of 1.06. The company has a 50-day simple moving average of $165.16 and a 200-day simple moving average of $183.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

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.