Checchi Capital Advisers LLC Purchases 130 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Checchi Capital Advisers LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,075 shares of the financial services provider’s stock after purchasing an additional 130 shares during the period. Checchi Capital Advisers LLC’s holdings in The PNC Financial Services Group were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $37,000. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company raised 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 report on Friday, November 15th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Barclays raised their price objective 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. Compass Point raised 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. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $186.90 on Thursday. The company has a market capitalization of $74.16 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.55 and a beta of 1.16. The business has a 50 day moving average of $195.46 and a 200 day moving average of $192.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.42%. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,713,745. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group 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.