HB Wealth Management LLC Grows Stock Holdings in The PNC Financial Services Group, Inc $PNC

HB Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,157 shares of the financial services provider’s stock after buying an additional 3,672 shares during the quarter. HB Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $10,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners grew its holdings in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of The PNC Financial Services Group in the second quarter valued at $37,000. True Wealth Design LLC raised its stake in shares of The PNC Financial Services Group by 1,133.3% during the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after buying an additional 204 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of a number of research reports. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Raymond James Financial raised their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Finally, Barclays boosted their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $222.06.

The PNC Financial Services Group Trading Up 1.1%

Shares of PNC opened at $218.60 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $220.54. The company has a market capitalization of $85.73 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99. The stock has a fifty day moving average of $198.75 and a two-hundred day moving average of $195.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s payout ratio is 43.93%.

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.