The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,328 shares of the financial services provider’s stock after acquiring an additional 272 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in The PNC Financial Services Group were worth $2,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $1,825,000. KPP Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $323,000. AQR Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after buying an additional 67,490 shares during the last quarter. Trust Point Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PNC. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Jefferies Financial Group reduced their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $157.02.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $0.54 during trading hours on Friday, hitting $156.22. 1,141,551 shares of the stock were exchanged, compared to its average volume of 1,722,543. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm’s fifty day moving average price is $153.58 and its 200 day moving average price is $144.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market cap of $62.15 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.76 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.98 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend 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.