Independent Solutions Wealth Management LLC Has $1.16 Million Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Independent Solutions Wealth Management LLC cut its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,581 shares of the financial services provider’s stock after selling 511 shares during the period. Independent Solutions Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.2% during the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider’s stock worth $573,000 after buying an additional 69 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in The PNC Financial Services Group by 356.3% during the 1st quarter. Daymark Wealth Partners LLC now owns 57,196 shares of the financial services provider’s stock worth $10,053,000 after acquiring an additional 44,660 shares during the last quarter. Lecap Asset Management Ltd. grew its stake in shares of The PNC Financial Services Group by 436.2% during the 1st quarter. Lecap Asset Management Ltd. now owns 11,513 shares of the financial services provider’s stock worth $2,024,000 after acquiring an additional 9,366 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $41,000. Finally, PBMares Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $284,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PNC shares. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Keefe, Bruyette & Woods lowered their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada dropped their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $182.05 on Wednesday. The stock has a market cap of $72.01 billion, a PE ratio of 12.86, a P/E/G ratio of 1.52 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $170.16 and a 200-day moving average of $180.59. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $155.27, for a total value of $99,528.07. Following the transaction, the chief executive officer now owns 564,174 shares in the company, valued at approximately $87,599,296.98. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock worth $2,099,398 in the last 90 days. Company insiders own 0.41% of the company’s stock.

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.