Wick Capital Partners LLC Purchases New Position in The PNC Financial Services Group, Inc $PNC

Wick Capital Partners LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,032 shares of the financial services provider’s stock, valued at approximately $1,050,000.

Several other hedge funds have also recently bought and sold shares of the stock. Compound Planning Inc. increased its position in shares of The PNC Financial Services Group by 25.9% during the 4th quarter. Compound Planning Inc. now owns 7,285 shares of the financial services provider’s stock worth $1,520,000 after purchasing an additional 1,499 shares in the last quarter. Invesco Ltd. boosted its position in The PNC Financial Services Group by 0.4% in the fourth quarter. Invesco Ltd. now owns 5,007,838 shares of the financial services provider’s stock valued at $1,045,286,000 after buying an additional 21,554 shares in the last quarter. Evansbrook LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $510,000. First Growth Capital LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $193,000. Finally, Axxcess Wealth Management LLC increased its holdings in shares of The PNC Financial Services Group by 29.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 10,603 shares of the financial services provider’s stock worth $2,213,000 after buying an additional 2,416 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $232.39 on Friday. The firm has a fifty day moving average of $222.45 and a two-hundred day moving average of $217.44. The stock has a market capitalization of $93.32 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.97 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52 week low of $176.16 and a 52 week high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company earned $3.51 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts predict that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PNC. Citigroup lifted their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target on the stock. Morgan Stanley raised their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Barclays lifted their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Oppenheimer increased their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $246.72.

Insiders Place Their Bets

In other news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.