Waldron Private Wealth LLC Grows Position in PNC Financial Services Group Inc (PNC)

Waldron Private Wealth LLC lifted its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 21.3% during the 1st quarter, HoldingsChannel reports. The firm owned 3,768 shares of the financial services provider’s stock after acquiring an additional 662 shares during the period. Waldron Private Wealth LLC’s holdings in PNC Financial Services Group were worth $462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Martingale Asset Management L P boosted its holdings in shares of PNC Financial Services Group by 3.3% during the 3rd quarter. Martingale Asset Management L P now owns 22,319 shares of the financial services provider’s stock worth $3,040,000 after buying an additional 707 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of PNC Financial Services Group by 4.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,404,435 shares of the financial services provider’s stock worth $191,270,000 after buying an additional 53,775 shares during the period. Teachers Advisors LLC boosted its holdings in shares of PNC Financial Services Group by 0.6% during the 3rd quarter. Teachers Advisors LLC now owns 1,235,622 shares of the financial services provider’s stock worth $168,279,000 after buying an additional 6,913 shares during the period. B. Riley Wealth Management Inc. bought a new stake in shares of PNC Financial Services Group during the 3rd quarter worth $224,000. Finally, Legal & General Group Plc boosted its holdings in shares of PNC Financial Services Group by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 2,193,219 shares of the financial services provider’s stock worth $298,726,000 after buying an additional 44,727 shares during the period. Institutional investors own 82.25% of the company’s stock.

Several research firms recently issued reports on PNC. Goldman Sachs Group downgraded shares of PNC Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $154.00 to $144.00 in a report on Monday, January 7th. Barclays upped their price objective on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Morgan Stanley upped their price objective on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Macquarie raised shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 price objective for the company. in a report on Friday, January 25th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $143.63.

In related news, insider Joseph E. Rockey sold 6,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the transaction, the insider now directly owns 24,747 shares in the company, valued at approximately $3,340,845. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert Q. Reilly sold 12,361 shares of the company’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the transaction, the executive vice president now owns 118,671 shares of the company’s stock, valued at $14,537,197.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

NYSE:PNC opened at $137.10 on Friday. The firm has a market cap of $62.19 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.59 and a beta of 1.09. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $152.29. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.23.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.61. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.24 billion. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. During the same period in the prior year, the company earned $2.43 EPS. As a group, analysts forecast that PNC Financial Services Group Inc will post 11.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, April 15th. PNC Financial Services Group’s payout ratio is currently 35.48%.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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