IPG Investment Advisors LLC Acquires New Stake in The PNC Financial Services Group, Inc $PNC

IPG Investment Advisors LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 7,302 shares of the financial services provider’s stock, valued at approximately $1,524,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $35,000. Cornerstone Planning Group LLC increased its stake in shares of The PNC Financial Services Group by 2,100.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 168 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $37,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $39,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNC shares. Bank of America raised their target price 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. Morgan Stanley raised 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 research note on Thursday, April 16th. Citigroup raised their target price on 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. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Finally, Oppenheimer raised their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $220.86 on Thursday. The stock has a market cap of $88.69 billion, a PE ratio of 12.83, a P/E/G ratio of 0.92 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a twelve month low of $170.49 and a twelve month high of $243.94. The stock has a fifty day simple moving average of $215.54 and a 200-day simple moving average of $212.73.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly 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 business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.51 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued 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 dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

The PNC Financial Services Group Company 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.