InvesTrust Makes New $686,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

InvesTrust acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, Holdings Channel.com reports. The firm acquired 3,564 shares of the financial services provider’s stock, valued at approximately $686,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. increased its holdings in The PNC Financial Services Group by 25.0% during the 4th quarter. Legend Financial Advisors Inc. now owns 744 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 149 shares in the last quarter. One Wealth Capital Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $202,000. Fortem Financial Group LLC boosted its holdings in shares of The PNC Financial Services Group by 1.6% during the 4th quarter. Fortem Financial Group LLC now owns 7,329 shares of the financial services provider’s stock worth $1,413,000 after buying an additional 114 shares during the period. Neville Rodie & Shaw Inc. raised its holdings in The PNC Financial Services Group by 1.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 8,077 shares of the financial services provider’s stock valued at $1,558,000 after acquiring an additional 150 shares during the period. Finally, Nordea Investment Management AB increased its position in The PNC Financial Services Group by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 32,538 shares of the financial services provider’s stock worth $6,283,000 after buying an additional 1,930 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,272 shares of company stock worth $6,155,103 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNC. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Compass Point increased their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.29.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $0.30 during trading on Wednesday, reaching $195.07. The company’s stock had a trading volume of 776,204 shares, compared to its average volume of 1,844,150. The firm has a 50 day moving average of $201.22 and a 200-day moving average of $185.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $77.40 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid 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 3.28%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

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.