SVB Wealth LLC Acquires Shares of 8,821 The PNC Financial Services Group, Inc. (NYSE:PNC)

SVB Wealth LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,821 shares of the financial services provider's stock, valued at approximately $1,701,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fortress Financial Group LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $268,000. Dynasty Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 4.5% during the fourth quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider's stock worth $285,000 after purchasing an additional 64 shares during the last quarter. Private Trust Co. NA increased its stake in The PNC Financial Services Group by 1.8% in the 4th quarter. Private Trust Co. NA now owns 10,122 shares of the financial services provider's stock valued at $1,952,000 after buying an additional 178 shares during the last quarter. Hosking Partners LLP lifted its position in shares of The PNC Financial Services Group by 22.7% during the 4th quarter. Hosking Partners LLP now owns 85,129 shares of the financial services provider's stock worth $16,417,000 after buying an additional 15,747 shares in the last quarter. Finally, Argyle Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Argyle Capital Management LLC now owns 32,903 shares of the financial services provider's stock valued at $6,345,000 after acquiring an additional 385 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PNC shares. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. The Goldman Sachs Group raised their price objective 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. Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Citigroup lifted their price target 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. Finally, Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

PNC stock traded down $0.08 during mid-day trading on Wednesday, reaching $180.37. 2,320,172 shares of the company traded hands, compared to its average volume of 2,154,064. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a market capitalization of $71.38 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $195.06 and a 200-day moving average price of $192.83.

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 earnings per share for the quarter, topping 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 EPS. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.55%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is 46.55%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the sale, the chief executive officer now directly owns 532,523 shares of the company's stock, valued at $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 13,662 shares of company stock worth $2,681,664 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

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.