Allworth Financial LP Has $4.34 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Allworth Financial LP raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 55.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,096 shares of the financial services provider's stock after buying an additional 7,913 shares during the period. Allworth Financial LP's holdings in The PNC Financial Services Group were worth $4,337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PNC. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. raised its holdings in shares of 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 in the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Valley Wealth Managers Inc. raised its holdings in shares of 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 in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $3.99 during midday trading on Friday, hitting $187.90. The company had a trading volume of 1,991,887 shares, compared to its average volume of 2,191,146. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $74.55 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16. The firm has a fifty day simple moving average of $196.08 and a two-hundred day simple moving average of $191.64. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The firm's revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders 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 annualized dividend and a dividend yield of 3.41%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 sale, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 12,420 shares of company stock worth $2,474,722. Corporate insiders own 0.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Stephens reiterated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Compass Point lifted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Finally, Citigroup lifted 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 report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.