Elevation Point Wealth Partners LLC Has $1.27 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Elevation Point Wealth Partners LLC grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 561.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,312 shares of the financial services provider’s stock after acquiring an additional 5,358 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kennebec Savings Bank boosted its stake in The PNC Financial Services Group by 1.6% in the 3rd quarter. Kennebec Savings Bank now owns 3,424 shares of the financial services provider’s stock valued at $688,000 after buying an additional 54 shares in the last quarter. SCS Capital Management LLC raised its stake in The PNC Financial Services Group by 0.6% during the second quarter. SCS Capital Management LLC now owns 8,527 shares of the financial services provider’s stock worth $1,590,000 after acquiring an additional 55 shares in the last quarter. Webster Bank N. A. lifted its holdings in shares of The PNC Financial Services Group by 0.5% during the third quarter. Webster Bank N. A. now owns 10,975 shares of the financial services provider’s stock valued at $2,205,000 after acquiring an additional 55 shares during the period. YANKCOM Partnership lifted its holdings in shares of The PNC Financial Services Group by 2.3% during the third quarter. YANKCOM Partnership now owns 2,537 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 57 shares during the period. Finally, Foster & Motley Inc. boosted its stake in shares of The PNC Financial Services Group by 4.2% in the 3rd quarter. Foster & Motley Inc. now owns 1,420 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 57 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares in the company, valued at approximately $448,563.16. This trade represents a 79.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares of the company’s stock, valued at approximately $4,415,066.67. The trade was a 18.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock valued at $14,840,973 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.3%

PNC opened at $200.55 on Tuesday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $243.94. The stock has a market capitalization of $80.89 billion, a PE ratio of 12.09, a PEG ratio of 0.84 and a beta of 0.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $221.24 and a two-hundred day moving average price of $205.24.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business earned $3.77 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PNC shares. JPMorgan Chase & Co. upped their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. TD Cowen raised their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Finally, Oppenheimer raised their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $234.44.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.