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

Eagle Wealth Strategies LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 81.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,624 shares of the financial services provider’s stock after buying an additional 1,626 shares during the quarter. The PNC Financial Services Group makes up about 0.4% of Eagle Wealth Strategies LLC’s holdings, making the stock its 28th largest position. Eagle Wealth Strategies LLC’s holdings in The PNC Financial Services Group were worth $637,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PNC. Mechanics Financial Corp bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $541,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $739,000. Premier Fund Managers Ltd raised its stake in shares of The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after purchasing an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer now directly owns 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,154 shares of company stock valued at $2,525,591. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $178.72 on Friday. The stock has a 50-day moving average price of $165.16 and a 200-day moving average price of $183.42. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. 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 stock has a market capitalization of $70.70 billion, a P/E ratio of 13.00, a PEG ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.50 billion. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced 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 presently 45.20%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PNC shares. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank of Canada decreased their price objective 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. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Finally, The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.67.

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.