Root Financial Partners LLC Makes New $346,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Root Financial Partners LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,793 shares of the financial services provider's stock, valued at approximately $346,000.

Other hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Valley Wealth Managers Inc. grew its holdings in The PNC Financial Services Group by 20,000.0% during the 3rd 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 last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares of the company's stock, valued at $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 13,662 shares of company stock valued at $2,730,549 over the last 90 days. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Up 1.2 %

Shares of PNC traded up $2.29 during mid-day trading on Tuesday, hitting $196.20. The company's stock had a trading volume of 2,226,668 shares, compared to its average volume of 2,205,580. The company's 50-day moving average is $196.90 and its 200-day moving average is $191.28. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The firm has a market capitalization of $77.85 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.64 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.26%. The PNC Financial Services Group's payout ratio is 46.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Stephens reiterated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup upped their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. 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, the company currently has a consensus rating of "Hold" and an average target price of $205.00.

About The PNC Financial Services Group

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.