Vivid Wealth Management LLC Acquires Shares of 13,175 The PNC Financial Services Group, Inc $PNC

Vivid Wealth Management LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,175 shares of the financial services provider’s stock, valued at approximately $2,750,000.

A number of other large investors also recently modified their holdings of PNC. Quarry LP acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $35,000. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $34,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $37,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $39,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 64,186 shares of company stock valued at $14,840,973. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. TD Cowen raised their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Barclays raised their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Bank of America raised their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $251.00 to $237.50 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.69.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $221.45 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $214.54 and a two-hundred day moving average price of $207.85. The PNC Financial Services Group, Inc has a twelve month low of $156.70 and a twelve month high of $243.94. The company has a market capitalization of $89.33 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.51 earnings per share. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is 39.51%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.