The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744 shares of the financial services provider’s stock after purchasing an additional 149 shares during the period. Legend Financial Advisors Inc.’s holdings in The PNC Financial Services Group were worth $143,000 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 the business. Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at $33,000. Valley Wealth Managers Inc. grew its holdings in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Quarry LP increased its stake in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at approximately $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $0.69 during trading hours on Tuesday, reaching $194.90. 2,727,089 shares of the stock traded hands, compared to its average volume of 2,086,406. The company has a 50 day moving average price of $201.08 and a 200 day moving average price of $184.87. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $77.33 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.28%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,272 shares of company stock valued at $6,155,103. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $203.29.

The PNC Financial Services Group Company Profile

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.