Merit Financial Group LLC Has $695,000 Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Merit Financial Group LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 63.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,488 shares of the financial services provider’s stock after purchasing an additional 1,742 shares during the period. Merit Financial Group LLC’s holdings in The PNC Financial Services Group were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PNC. OFI Invest Asset Management bought a new position in The PNC Financial Services Group during the 3rd quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PNC. Morgan Stanley raised their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. 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 research report on Monday, April 1st. Evercore ISI decreased their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, UBS Group boosted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $157.02.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.1 %

PNC opened at $156.43 on Tuesday. The firm has a market cap of $62.23 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $153.82 and its two-hundred day moving average is $145.08.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

The PNC Financial Services Group Company Profile

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.