Wealthspire Advisors LLC Has $934,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealthspire Advisors LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,033 shares of the financial services provider’s stock after purchasing an additional 124 shares during the period. Wealthspire Advisors LLC’s holdings in The PNC Financial Services Group were worth $934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gradient Investments LLC boosted its position in The PNC Financial Services Group by 59.9% during the third quarter. Gradient Investments LLC now owns 635 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 238 shares during the period. Dubuque Bank & Trust Co increased its position in The PNC Financial Services Group by 4.7% during the 3rd quarter. Dubuque Bank & Trust Co now owns 2,801 shares of the financial services provider’s stock worth $344,000 after buying an additional 127 shares during the period. ING Groep NV acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $182,000. Carmel Capital Partners LLC bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $40,000. Finally, Assetmark Inc. grew its stake in shares of The PNC Financial Services Group by 14.3% in the third quarter. Assetmark Inc. now owns 59,625 shares of the financial services provider’s stock valued at $7,320,000 after acquiring an additional 7,456 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PNC has been the topic of several recent research reports. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Evercore ISI reduced their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Three investment 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.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Trading Up 0.7 %

Shares of NYSE:PNC traded up $1.09 during mid-day trading on Friday, hitting $158.21. The company had a trading volume of 33,198 shares, compared to its average volume of 2,011,303. The company has a market capitalization of $62.94 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The firm has a fifty day moving average price of $154.25 and a 200 day moving average price of $145.47. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating 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 firm 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 earnings per share. The company’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors 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 yield of 3.92%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

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.