Schneider Downs Wealth Management Advisors LP Purchases 1,435 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schneider Downs Wealth Management Advisors LP grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 50.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,273 shares of the financial services provider’s stock after buying an additional 1,435 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in The PNC Financial Services Group were worth $662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in The PNC Financial Services Group by 6.3% in the 3rd quarter. Allworth Financial LP now owns 8,259 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 486 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of The PNC Financial Services Group by 6.2% in the third quarter. Daiwa Securities Group Inc. now owns 33,572 shares of the financial services provider’s stock valued at $4,122,000 after buying an additional 1,959 shares during the period. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $25,000. Coldstream Capital Management Inc. grew its position in The PNC Financial Services Group by 6.3% during the third quarter. Coldstream Capital Management Inc. now owns 5,223 shares of the financial services provider’s stock worth $641,000 after buying an additional 311 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in The PNC Financial Services Group by 0.9% in the 3rd quarter. California Public Employees Retirement System now owns 755,678 shares of the financial services provider’s stock valued at $92,775,000 after acquiring an additional 7,042 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PNC shares. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Bank of America raised their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $157.02.

Get Our Latest Report on PNC

The PNC Financial Services Group Trading Down 0.3 %

Shares of The PNC Financial Services Group stock traded down $0.54 on Friday, hitting $160.35. The stock had a trading volume of 1,075,124 shares, compared to its average volume of 1,421,350. The stock has a 50 day moving average of $155.45 and a 200 day moving average of $148.02. The firm has a market capitalization of $63.80 billion, a P/E ratio of 13.46, a PEG ratio of 1.81 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.87%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company Profile

(Free Report)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.

Read More

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

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.