Charles Schwab Investment Management Inc. Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Charles Schwab Investment Management Inc. boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,480,024 shares of the financial services provider’s stock after purchasing an additional 39,926 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of The PNC Financial Services Group worth $478,273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in The PNC Financial Services Group by 40.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,674 shares of the financial services provider’s stock valued at $3,023,000 after purchasing an additional 4,515 shares during the period. Meridian Wealth Management LLC raised its position in The PNC Financial Services Group by 1.5% in the fourth quarter. Meridian Wealth Management LLC now owns 5,885 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 89 shares in the last quarter. Garrett Wealth Advisory Group LLC lifted its holdings in The PNC Financial Services Group by 87.1% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 2,328 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 1,084 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of The PNC Financial Services Group by 24.8% during the 4th quarter. Fidelis Capital Partners LLC now owns 5,287 shares of the financial services provider’s stock worth $1,045,000 after purchasing an additional 1,052 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $191,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the transaction, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 13,662 shares of company stock worth $2,681,664 in the last three months. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. The Goldman Sachs Group boosted 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. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their target price on 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. Finally, Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $180.27 on Wednesday. The company has a market capitalization of $71.34 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current 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 company’s 50 day simple moving average is $195.06 and its 200 day simple moving average is $192.83.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 earnings per share. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.