Eagle Wealth Strategies LLC Purchases 9,692 Shares of The PNC Financial Services Group, Inc $PNC

Eagle Wealth Strategies LLC grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 268.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,304 shares of the financial services provider’s stock after acquiring an additional 9,692 shares during the period. The PNC Financial Services Group comprises about 1.3% of Eagle Wealth Strategies LLC’s holdings, making the stock its 12th largest holding. Eagle Wealth Strategies LLC’s holdings in The PNC Financial Services Group were worth $2,777,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of The PNC Financial Services Group during the third quarter valued at approximately $25,000. Westfuller Advisors LLC purchased a new stake in The PNC Financial Services Group in the third quarter worth $34,000. JPL Wealth Management LLC bought a new position in The PNC Financial Services Group in the third quarter worth $37,000. Financial Life Planners bought a new position in The PNC Financial Services Group in the third quarter worth $39,000. Finally, Bayforest Capital Ltd lifted its position in The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after buying an additional 147 shares during the period. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PNC shares. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Barclays lifted their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. upped their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Fifteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.44.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the sale, the executive vice president owned 21,120 shares in the company, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Up 0.5%

NYSE PNC opened at $202.10 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94. The stock has a market cap of $81.52 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.90 and a beta of 0.98. The stock’s fifty day moving average price is $220.32 and its 200-day moving average price is $205.17. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The PNC Financial Services Group’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.77 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s payout ratio is 40.99%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.