Sound View Wealth Advisors Group LLC Buys 69 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)


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Sound View Wealth Advisors Group LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the first quarter, Holdings Channel reports. The institutional investor owned 7,199 shares of the financial services provider’s stock after acquiring an additional 69 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in The PNC Financial Services Group were worth $1,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in The PNC Financial Services Group by 9.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,391,754 shares of the financial services provider’s stock worth $3,932,371,000 after buying an additional 2,230,186 shares during the last quarter. FMR LLC lifted its position in shares of The PNC Financial Services Group by 57.8% during the fourth quarter. FMR LLC now owns 8,399,370 shares of the financial services provider’s stock worth $1,251,506,000 after purchasing an additional 3,076,159 shares during the last quarter. Aristotle Capital Management LLC lifted its position in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Aristotle Capital Management LLC now owns 5,826,993 shares of the financial services provider’s stock worth $868,222,000 after purchasing an additional 134,065 shares during the last quarter. Norges Bank bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $671,132,000. Finally, Morgan Stanley lifted its position in shares of The PNC Financial Services Group by 34.7% during the fourth quarter. Morgan Stanley now owns 3,388,311 shares of the financial services provider’s stock worth $504,860,000 after purchasing an additional 873,125 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Shares of NYSE:PNC traded up $0.41 during midday trading on Tuesday, reaching $188.53. 21,331 shares of the company’s stock traded hands, compared to its average volume of 1,959,431. The PNC Financial Services Group, Inc. has a 1 year low of $93.27 and a 1 year high of $189.43. The company has a market cap of $79.94 billion, a P/E ratio of 11.26, a PEG ratio of 3.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 0.88. The company has a fifty day simple moving average of $178.40 and a two-hundred day simple moving average of $153.75.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $1.35. The company had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.10 billion. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.95 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 6.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, April 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.39%.

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $192.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, April 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of The PNC Financial Services Group from $157.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, April 1st. Smith Barney Citigroup raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $179.00 in a research note on Monday, January 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of The PNC Financial Services Group from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $171.00 to $182.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $171.05.

In other The PNC Financial Services Group news, EVP Karen L. Larrimer sold 3,205 shares of the firm’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $156.92, for a total value of $502,928.60. Following the completion of the sale, the executive vice president now directly owns 24,580 shares of the company’s stock, valued at approximately $3,857,093.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 3,455 shares of company stock valued at $546,810 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

The PNC Financial Services Group 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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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