Focus Partners Wealth Has $39.14 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Focus Partners Wealth raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 201,877 shares of the financial services provider’s stock after purchasing an additional 1,402 shares during the period. Focus Partners Wealth’s holdings in The PNC Financial Services Group were worth $39,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. ORG Partners LLC increased its position in The PNC Financial Services Group by 495.4% in the 4th quarter. ORG Partners LLC now owns 5,132 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 4,270 shares during the last quarter. Graypoint LLC raised its position in The PNC Financial Services Group by 7.7% during the fourth quarter. Graypoint LLC now owns 3,032 shares of the financial services provider’s stock valued at $585,000 after acquiring an additional 218 shares in the last quarter. Czech National Bank lifted its stake in The PNC Financial Services Group by 6.2% in the fourth quarter. Czech National Bank now owns 86,031 shares of the financial services provider’s stock valued at $16,591,000 after acquiring an additional 5,057 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $785,000. Finally, City State Bank increased its stake in shares of The PNC Financial Services Group by 59.4% during the 4th quarter. City State Bank now owns 1,132 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 422 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.2 %

Shares of PNC opened at $166.44 on Friday. The stock’s 50-day moving average price is $164.74 and its 200 day moving average price is $186.57. 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, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders 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 annualized dividend and a dividend yield of 3.85%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now directly owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $163.16, for a total value of $202,644.72. Following the completion of the sale, the chief executive officer now owns 558,605 shares in the company, valued at $91,141,991.80. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,662 shares of company stock valued at $2,322,006 over the last quarter. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent research reports. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank of Canada cut their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Barclays decreased their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped 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 research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $200.88.

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.