The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 47.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,875 shares of the financial services provider’s stock after purchasing an additional 6,687 shares during the period. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $3,233,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. 1832 Asset Management L.P. grew its stake in shares of The PNC Financial Services Group by 33.5% during the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 67 shares in the last quarter. Bangor Savings Bank grew its stake in The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares in the last quarter. KCM Investment Advisors LLC grew its stake in The PNC Financial Services Group by 7.1% in the first quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 79 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in The PNC Financial Services Group by 2.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in The PNC Financial Services Group by 0.8% in the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 84 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 1.0 %

The PNC Financial Services Group stock opened at $161.63 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $64.30 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The firm’s 50 day moving average price is $149.96 and its two-hundred day moving average price is $138.25.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.49 earnings per share. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 12.41 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were given a $1.55 dividend. The ex-dividend date was Friday, January 12th. This represents a $6.20 annualized dividend and a yield of 3.84%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 48.48%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PNC. Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a report on Tuesday, December 19th. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday. Stephens reissued an “equal weight” rating and issued a $138.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. Finally, Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 target price on the stock in a report on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $152.87.

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.