Strategic Investment Advisors MI Makes New $1.58 Million Investment in The PNC Financial Services Group, Inc $PNC

Strategic Investment Advisors MI bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,589 shares of the financial services provider’s stock, valued at approximately $1,579,000.

A number of other institutional investors have also added to or reduced their stakes in PNC. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $25,000. Quarry LP purchased a new stake in The PNC Financial Services Group during the third quarter valued at approximately $25,000. Modus Advisors LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $29,000. Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC lifted its stake in shares of The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,300 shares of company stock worth $10,694,574 in the last 90 days. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $248.46 on Thursday. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $256.49. The stock’s 50-day moving average is $239.02 and its 200 day moving average is $225.62. The company has a market cap of $99.77 billion, a P/E ratio of 13.67, a PEG ratio of 1.00 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $2.00 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date is Monday, July 20th. This represents a $8.00 annualized dividend and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.03%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Bank of America increased their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Oppenheimer upped their target price on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Barclays increased their price target on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $265.73.

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.