The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Lifted by Summit Financial LLC

Summit Financial LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,643 shares of the financial services provider’s stock after buying an additional 131 shares during the period. Summit Financial LLC’s holdings in The PNC Financial Services Group were worth $703,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Mechanics Financial Corp bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $739,000. Premier Fund Managers Ltd increased its position in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in The PNC Financial Services Group by 25.3% in the fourth 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 buying an additional 8,081 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now owns 527,555 shares in the company, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 13,662 shares of company stock valued at $2,559,389 over the last three months. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $177.24 on Thursday. The firm has a 50-day moving average of $186.59 and a two-hundred day moving average of $192.07. The company has a market capitalization of $70.14 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $3.16 earnings per share. As a group, analysts expect 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 Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PNC shares. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Citigroup decreased 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 research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $204.12.

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.