DiNuzzo Private Wealth Inc. Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

DiNuzzo Private Wealth Inc. bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 526 shares of the financial services provider’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steph & Co. boosted its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 67 shares during the period. Bangor Savings Bank increased 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 valued at $888,000 after purchasing an additional 69 shares during the period. Oakworth Capital Inc. raised its holdings in shares of The PNC Financial Services Group by 11.7% in the fourth quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock valued at $111,000 after buying an additional 75 shares during the last quarter. Caprock Group LLC boosted its stake in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 79 shares during the period. Finally, Legacy Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 0.8% during the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 84 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Evercore ISI reduced their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Bank of America upped their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $2.73 during mid-day trading on Wednesday, hitting $155.99. The stock had a trading volume of 849,184 shares, compared to its average volume of 2,082,632. The company has a 50 day simple moving average of $153.03 and a 200 day simple moving average of $144.00. The company has a market cap of $62.05 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.76 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $3.98 EPS. The business’s revenue was down 8.2% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

About The PNC Financial Services Group

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.