The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,635 shares of the financial services provider’s stock after purchasing an additional 730 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in The PNC Financial Services Group were worth $701,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Van Strum & Towne Inc. grew its stake in The PNC Financial Services Group by 28.0% in the fourth quarter. Van Strum & Towne Inc. now owns 1,602 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 350 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in The PNC Financial Services Group by 4,410.6% in the fourth quarter. Picton Mahoney Asset Management now owns 41,182 shares of the financial services provider’s stock valued at $7,942,000 after acquiring an additional 40,269 shares during the period. Associated Banc Corp acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $223,000. Wellington Shields & Co. LLC boosted its stake in The PNC Financial Services Group by 2.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 5,083 shares of the financial services provider’s stock valued at $980,000 after acquiring an additional 100 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $201,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the transaction, the chief executive officer now owns 568,541 shares of the company’s stock, valued at approximately $101,672,187.03. This represents a 0.22 % 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 90 days, insiders have sold 12,420 shares of company stock valued at $2,391,695. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $172.80 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The stock has a market cap of $68.39 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.55 and a beta of 1.13. The stock’s 50 day moving average price is $192.04 and its 200 day moving average price is $192.63. 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 (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 earnings per share. Equities research analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders 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 dividend yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNC. Stephens restated 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. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group boosted 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, Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $205.00.

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.