Thrive Wealth Management LLC Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Thrive Wealth Management LLC increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,899 shares of the financial services provider’s stock after purchasing an additional 162 shares during the quarter. Thrive Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $792,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Finally, Core Wealth Advisors Inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

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

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Evercore ISI raised their price target 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. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Bank of America raised their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $158.43.

The PNC Financial Services Group Stock Up 1.3 %

Shares of NYSE PNC traded up $1.95 during trading hours on Friday, hitting $153.88. The stock had a trading volume of 52,282 shares, compared to its average volume of 1,878,549. The company has a market capitalization of $61.23 billion, a P/E ratio of 12.76, a P/E/G ratio of 2.17 and a beta of 1.16. The firm’s 50-day moving average price is $155.04 and its two-hundred day moving average price is $152.73. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company earned $3.98 earnings per share. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

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.