Cetera Investment Advisers Has $25.29 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Cetera Investment Advisers increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,123 shares of the financial services provider’s stock after acquiring an additional 9,068 shares during the period. Cetera Investment Advisers’ holdings in The PNC Financial Services Group were worth $25,287,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Martin Pfinsgraff bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now directly owns 2,009 shares of the company’s stock, valued at $317,863.98. This represents a 99.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the transaction, the chief executive officer now directly owns 571,025 shares in the company, valued at $109,893,761.25. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,662 shares of company stock valued at $2,322,006 over the last 90 days. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley dropped their price target on 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. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Finally, The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $200.88.

The PNC Financial Services Group Stock Up 1.6 %

Shares of NYSE PNC opened at $166.65 on Friday. The business has a 50-day simple moving average of $165.02 and a two-hundred day simple moving average of $186.72. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a market cap of $65.92 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.55 and a beta of 1.06. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Research 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 company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given 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 yield of 3.84%. The PNC Financial Services Group’s payout ratio is 45.20%.

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 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.