1,998 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Eagle Wealth Strategies LLC

Eagle Wealth Strategies LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,998 shares of the financial services provider’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Convergence Investment Partners LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth approximately $213,000. Legacy Capital Wealth Partners LLC grew its position in The PNC Financial Services Group by 16.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 4,582 shares of the financial services provider’s stock worth $710,000 after buying an additional 662 shares in the last quarter. Transcend Capital Advisors LLC grew its position in The PNC Financial Services Group by 2.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,244 shares of the financial services provider’s stock worth $502,000 after buying an additional 89 shares in the last quarter. Syon Capital LLC lifted its stake in The PNC Financial Services Group by 16.8% during the fourth quarter. Syon Capital LLC now owns 1,948 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 280 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan lifted its stake in The PNC Financial Services Group by 48.8% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 11,900 shares of the financial services provider’s stock worth $1,843,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $156.11 on Monday. The firm’s 50-day simple moving average is $152.76 and its two-hundred day simple moving average is $143.51. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $62.10 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm earned $3.98 EPS. The company’s revenue was down 8.2% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. UBS Group increased their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Jefferies Financial Group decreased their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $156.63.

Insider Buying and Selling

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

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.