Wick Capital Partners LLC Makes New Investment in The PNC Financial Services Group, Inc $PNC

Wick Capital Partners LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,032 shares of the financial services provider’s stock, valued at approximately $1,050,000.

Several other large investors also recently modified their holdings of PNC. Quarry LP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. EFG International AG bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $33,000. Finally, Beacon Financial Strategies CORP bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $35,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock worth $10,694,574 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $232.39 on Friday. The stock has a market capitalization of $93.32 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.97 and a beta of 0.92. The PNC Financial Services Group, Inc has a twelve month low of $176.16 and a twelve month high of $243.94. The company has a 50 day moving average of $222.45 and a 200-day moving average of $217.44. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $3.51 earnings per share. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PNC. Stephens started coverage on shares of The PNC Financial Services Group in a research report on Monday. They set an “overweight” rating and a $265.00 price objective for the company. Barclays boosted their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Citigroup upped their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley increased their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

About The PNC Financial Services Group

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.