Lighthouse Financial Services Inc. ADV Invests $603,000 in The PNC Financial Services Group, Inc $PNC

Lighthouse Financial Services Inc. ADV acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 4th quarter, Holdings Channel reports. The firm acquired 2,887 shares of the financial services provider’s stock, valued at approximately $603,000.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $35,000. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth $34,000. Cornerstone Planning Group LLC increased its position in shares of The PNC Financial Services Group by 2,100.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 168 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter worth $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.2%

PNC opened at $216.66 on Friday. The firm has a market capitalization of $87.00 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.91 and a beta of 0.94. The firm’s 50 day moving average is $213.76 and its 200-day moving average is $209.44. The PNC Financial Services Group, Inc has a 52-week low of $166.02 and a 52-week high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.51 earnings per share. Analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is 39.51%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNC. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday. Finally, TD Cowen lifted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $243.11.

Insider Activity at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the sale, the executive vice president owned 21,120 shares in the company, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of The PNC Financial Services Group stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the sale, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. This trade represents a 18.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.