Koshinski Asset Management Inc. Invests $249,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)


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Koshinski Asset Management Inc. purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,546 shares of the financial services provider’s stock, valued at approximately $249,000.

Other hedge funds have also bought and sold shares of the company. TFC Financial Management purchased a new stake in The PNC Financial Services Group during the third quarter valued at $25,000. Sugarloaf Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $26,000. Clark Financial Advisors bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $29,000. Accel Wealth Management bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $29,000. Finally, MPS Loria Financial Planners LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

In other The PNC Financial Services Group news, EVP Karen L. Larrimer sold 3,205 shares of the company’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $156.92, for a total transaction of $502,928.60. Following the sale, the executive vice president now directly owns 24,580 shares in the company, valued at $3,857,093.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Guild Deborah sold 3,840 shares of the company’s stock in a transaction that occurred on Tuesday, January 26th. The shares were sold at an average price of $151.37, for a total value of $581,260.80. Following the sale, the executive vice president now owns 18,804 shares in the company, valued at $2,846,361.48. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Shares of The PNC Financial Services Group stock opened at $170.52 on Tuesday. The stock has a 50 day moving average of $156.60 and a 200 day moving average of $130.42. The PNC Financial Services Group, Inc. has a 12 month low of $79.41 and a 12 month high of $172.01. The firm has a market cap of $72.25 billion, a PE ratio of 10.20, a PEG ratio of 3.33 and a beta of 1.38. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 14th. The financial services provider reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.61. The PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company earned $2.97 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 6.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 5th. Investors of record on Tuesday, January 19th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, January 15th. The PNC Financial Services Group’s payout ratio is presently 40.39%.

Several research firms have issued reports on PNC. Barclays boosted their price target on The PNC Financial Services Group from $136.00 to $171.00 and gave the company an “equal weight” rating in a report on Monday, January 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $179.00 in a report on Monday, January 11th. Smith Barney Citigroup raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $179.00 in a report on Monday, January 11th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $173.00 to $177.00 and gave the company an “equal weight” rating in a report on Tuesday, January 19th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of The PNC Financial Services Group in a research note on Tuesday, November 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $145.78.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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