63,492 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 63,492 shares of the financial services provider's stock, valued at approximately $12,244,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $32,000. Finally, Valley Wealth Managers Inc. lifted its stake 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 worth $37,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PNC. Citigroup increased 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. Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Finally, Compass Point increased their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $205.00.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on 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 owns 533,765 shares in the company, valued at $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 13,662 shares of company stock worth $2,730,549. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $2.33 during midday trading on Wednesday, hitting $194.19. The company's stock had a trading volume of 1,615,624 shares, compared to its average volume of 2,210,520. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month 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 1.13. The stock's 50-day moving average price is $196.73 and its 200-day moving average price is $191.47. The company has a market capitalization of $77.05 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. 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 3.30%. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

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.