Greenwood Capital Associates LLC Purchases 938 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Greenwood Capital Associates LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 12,270 shares of the financial services provider’s stock after buying an additional 938 shares during the period. Greenwood Capital Associates LLC’s holdings in The PNC Financial Services Group were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in The PNC Financial Services Group by 5.3% during the 1st quarter. Fifth Third Bancorp now owns 742,600 shares of the financial services provider’s stock worth $130,527,000 after buying an additional 37,200 shares during the period. Simon Quick Advisors LLC grew its stake in shares of The PNC Financial Services Group by 29.7% in the first quarter. Simon Quick Advisors LLC now owns 1,843 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 422 shares in the last quarter. Foresight Capital Management Advisors Inc. increased its position in The PNC Financial Services Group by 3.6% during the first quarter. Foresight Capital Management Advisors Inc. now owns 17,217 shares of the financial services provider’s stock worth $3,026,000 after acquiring an additional 596 shares during the period. Redhawk Wealth Advisors Inc. raised its stake in The PNC Financial Services Group by 29.8% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 5,758 shares of the financial services provider’s stock worth $1,012,000 after purchasing an additional 1,322 shares in the last quarter. Finally, CX Institutional boosted its holdings in The PNC Financial Services Group by 5.1% in the 1st quarter. CX Institutional now owns 2,616 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 126 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William S. Demchak sold 601 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the sale, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at $90,171,680. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,154 shares of company stock valued at $2,525,591 over the last 90 days. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $177.77 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $70.32 billion, a PE ratio of 12.93, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The business has a 50-day simple moving average of $166.06 and a two-hundred day simple moving average of $182.98.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.60%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.67.

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.