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

Pines Wealth Management LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,987 shares of the financial services provider’s stock after buying an additional 332 shares during the quarter. Pines Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,228,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

PNC has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Morgan Stanley cut their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. TD Cowen initiated coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. Royal Bank of Canada lowered their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Finally, HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $172.00, for a total value of $213,624.00. Following the sale, the chief executive officer now owns 566,057 shares in the company, valued at approximately $97,361,804. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff bought 1,000 shares of the company’s stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 15,154 shares of company stock valued at $2,525,591. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 2.3%

Shares of NYSE PNC opened at $178.72 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The company has a market capitalization of $70.70 billion, a P/E ratio of 13.00, a P/E/G 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 current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis 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 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.