MainStreet Investment Advisors LLC Takes $339,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

MainStreet Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,760 shares of the financial services provider’s stock, valued at approximately $339,000.

Other hedge funds have also modified their holdings of the company. Baltimore Washington Financial Advisors Inc. increased its position in shares of The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after buying an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares during the period. Transcend Capital Advisors LLC increased its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after buying an additional 55 shares during the period. Valmark Advisers Inc. increased its position in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares during the period. Finally, Gilbert & Cook Inc. increased its position in shares of The PNC Financial Services Group by 2.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock worth $537,000 after buying an additional 58 shares during the period. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $166.79, for a total transaction of $207,153.18. Following the completion of the sale, the chief executive officer now directly owns 557,363 shares of the company’s stock, valued at approximately $92,962,574.77. This trade represents a 0.22% decrease in their ownership of the stock. 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. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.3%

Shares of PNC opened at $178.04 on Thursday. The company’s fifty day moving average is $164.57 and its 200 day moving average is $186.36. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a market capitalization of $70.43 billion, a PE ratio of 12.95, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Sell-side analysts expect 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 business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is presently 45.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Morgan Stanley reduced their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada reduced their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. 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 report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $200.88.

View Our Latest Analysis on The PNC Financial Services Group

The PNC Financial Services Group Profile

(Free Report)

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.

Further Reading

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

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