DiNuzzo Private Wealth Inc. Buys New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

DiNuzzo Private Wealth Inc. purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 526 shares of the financial services provider’s stock, valued at approximately $81,000.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bank of America lifted their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group decreased their price target 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 set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased 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 assigned a hold rating and four have given 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 price target of $156.63.

The PNC Financial Services Group Stock Up 1.8 %

Shares of PNC traded up $2.73 during mid-day trading on Wednesday, hitting $155.99. The company’s stock had a trading volume of 849,184 shares, compared to its average volume of 2,082,632. 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’s 50-day moving average is $153.03 and its 200-day moving average is $144.00. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The firm has a market capitalization of $62.05 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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