Midland Wealth Advisors LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Midland Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,038 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other large investors also recently bought and sold shares of the company. Simplicity Wealth LLC increased its stake in The PNC Financial Services Group by 7.1% during the 4th quarter. Simplicity Wealth LLC now owns 1,396 shares of the financial services provider’s stock worth $269,000 after buying an additional 93 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,351,000. OFI Invest Asset Management purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $43,000. Personal CFO Solutions LLC grew its position in shares of The PNC Financial Services Group by 6.6% in the fourth quarter. Personal CFO Solutions LLC now owns 3,804 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 234 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the sale, the chief executive officer now owns 569,783 shares in the company, valued at $108,361,330.94. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 12,420 shares of company stock worth $2,421,788. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Compass Point upped their price target 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. Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company upped 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 report on Friday, November 15th. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $174.58 on Tuesday. The company has a 50-day simple moving average of $193.84 and a 200-day simple moving average of $192.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $69.09 billion, a PE ratio of 12.70, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company earned $3.16 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.67%. The PNC Financial Services Group’s payout ratio is 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.