Connecticut Wealth Management LLC Buys 84 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Connecticut Wealth Management LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,372 shares of the financial services provider’s stock after acquiring an additional 84 shares during the quarter. Connecticut Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $522,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNC. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.4 %

PNC stock traded up $0.55 during midday trading on Monday, hitting $156.77. The stock had a trading volume of 432,898 shares, compared to its average volume of 2,049,434. The business has a fifty day moving average price of $153.58 and a two-hundred day moving average price of $144.79. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. 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 firm has a market cap of $62.36 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for 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 company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 earnings per share. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.95%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’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 of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Bank of America raised their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on shares of 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. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $157.02.

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.