NewEdge Advisors LLC Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

NewEdge Advisors LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,522 shares of the financial services provider's stock after purchasing an additional 2,519 shares during the period. NewEdge Advisors LLC's holdings in The PNC Financial Services Group were worth $5,886,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased 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 worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays dropped their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Royal Bank of Canada decreased their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley reduced their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $3.06 during trading hours on Wednesday, reaching $157.51. 2,276,043 shares of the company's stock were exchanged, compared to its average volume of 1,995,851. The business has a fifty day moving average of $171.91 and a two-hundred day moving average of $188.77. The company has a market capitalization of $62.33 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the sale, the chief executive officer now directly owns 562,291 shares in the company, valued at approximately $84,624,795.50. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 12,460 shares of company stock worth $2,223,979 in the last quarter. Company insiders own 0.41% of the company's stock.

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.