Ritholtz Wealth Management Has $4.79 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,853 shares of the financial services provider’s stock after purchasing an additional 1,156 shares during the quarter. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $4,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PNC. Hennion & Walsh Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 17.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,197 shares of the financial services provider’s stock valued at $1,966,000 after buying an additional 1,511 shares in the last quarter. Foresight Capital Management Advisors Inc. raised its position in shares of The PNC Financial Services Group by 4.4% in the 4th quarter. Foresight Capital Management Advisors Inc. now owns 16,621 shares of the financial services provider’s stock valued at $3,205,000 after buying an additional 693 shares in the last quarter. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. USA Financial Formulas raised its position in shares of The PNC Financial Services Group by 212.4% in the 4th quarter. USA Financial Formulas now owns 4,020 shares of the financial services provider’s stock valued at $775,000 after buying an additional 2,733 shares in the last quarter. Finally, BluePath Capital Management LLC raised its position in shares of The PNC Financial Services Group by 17.0% in the 4th quarter. BluePath Capital Management LLC now owns 4,425 shares of the financial services provider’s stock valued at $852,000 after buying an additional 643 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Stock Down 2.1 %

The PNC Financial Services Group stock opened at $196.23 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm’s fifty day moving average is $201.65 and its 200 day moving average is $186.67. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a market capitalization of $77.86 billion, a PE ratio of 16.59, a PEG ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.16 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.26%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares in the company, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,030 shares of company stock worth $5,928,202. 0.42% of the stock is owned by company 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.