Independent Advisor Alliance Grows Stock Holdings in The PNC Financial Services Group, Inc $PNC

Independent Advisor Alliance lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 9.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,052 shares of the financial services provider’s stock after buying an additional 2,599 shares during the quarter. Independent Advisor Alliance’s holdings in The PNC Financial Services Group were worth $6,064,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. lifted its stake in shares of The PNC Financial Services Group by 4.2% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 3,680 shares of the financial services provider’s stock valued at $768,000 after buying an additional 148 shares in the last quarter. Community Bank N.A. lifted its stake in shares of The PNC Financial Services Group by 8.5% during the 4th quarter. Community Bank N.A. now owns 12,267 shares of the financial services provider’s stock valued at $2,560,000 after buying an additional 960 shares in the last quarter. World Investment Advisors lifted its stake in shares of The PNC Financial Services Group by 123.5% during the 4th quarter. World Investment Advisors now owns 10,984 shares of the financial services provider’s stock valued at $2,293,000 after buying an additional 6,069 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of The PNC Financial Services Group by 73.0% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 6,400 shares of the financial services provider’s stock valued at $1,336,000 after buying an additional 2,700 shares in the last quarter. Finally, Empire Life Investments Inc. increased its holdings in The PNC Financial Services Group by 8.7% in the 4th quarter. Empire Life Investments Inc. now owns 217,119 shares of the financial services provider’s stock valued at $45,319,000 after acquiring an additional 17,418 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $215.39 on Wednesday. The company’s 50-day moving average price is $213.56 and its 200-day moving average price is $210.16. The PNC Financial Services Group, Inc has a twelve month low of $169.32 and a twelve month high of $243.94. 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 company has a market cap of $86.50 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.89 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The firm 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 business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.51 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s payout ratio is 39.51%.

Insider Activity

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% 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, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the transaction, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. This trade represents a 8.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 64,186 shares of company stock worth $14,840,973. 0.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNC shares. Jefferies Financial Group started coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. TD Cowen lifted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Bank of America lifted their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

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.