Strategic Wealth Partners Ltd. Purchases 15,964 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Strategic Wealth Partners Ltd. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 32.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,099 shares of the financial services provider’s stock after purchasing an additional 15,964 shares during the quarter. The PNC Financial Services Group accounts for approximately 1.1% of Strategic Wealth Partners Ltd.’s investment portfolio, making the stock its 21st largest position. Strategic Wealth Partners Ltd.’s holdings in The PNC Financial Services Group were worth $12,722,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PNC. Richardson Financial Services Inc. increased its holdings 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 buying an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $30,000. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $33,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $179.45 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a fifty day simple moving average of $164.86 and a two-hundred day simple moving average of $186.20. The stock has a market capitalization of $70.98 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.57%. The PNC Financial Services Group’s payout ratio is presently 45.20%.

Analysts Set New Price Targets

Several analysts recently weighed in on PNC shares. Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $202.67.

Insider Activity

In related news, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company’s stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the transaction, the chief executive officer now owns 569,783 shares in the company, valued at $108,361,330.94. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,396 shares of company stock worth $2,789,603. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company 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.