Wealthcare Advisory Partners LLC Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealthcare Advisory Partners LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,972 shares of the financial services provider’s stock after purchasing an additional 74 shares during the period. Wealthcare Advisory Partners LLC’s holdings in The PNC Financial Services Group were worth $804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockline Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group during the third quarter valued at about $323,000. AQR Capital Management LLC grew its position in The PNC Financial Services Group by 144.2% during the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after buying an additional 67,490 shares during the period. Trust Point Inc. bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $295,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Tuesday. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $158.43.

The PNC Financial Services Group Trading Up 2.3 %

Shares of The PNC Financial Services Group stock opened at $155.48 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a market cap of $61.87 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.17 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company’s 50-day moving average price is $155.18 and its 200-day moving average price is $152.82.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $3.98 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

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.