Tempo Wealth LLC Makes New $527,000 Investment in The PNC Financial Services Group, Inc $PNC

Tempo Wealth LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,522 shares of the financial services provider’s stock, valued at approximately $527,000.

Several other institutional investors have also modified their holdings of PNC. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, EFG International AG acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PNC shares. Bank of America raised their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective on the stock. Barclays lifted their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $246.72.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock worth $10,694,574 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $232.39 on Friday. 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, Inc has a 52 week low of $176.16 and a 52 week high of $243.94. The firm’s 50 day moving average is $222.45 and its two-hundred day moving average is $217.44. The firm has a market capitalization of $93.32 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.97 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm earned $3.51 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

The PNC Financial Services Group Company Profile

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.