Wealth Enhancement Advisory Services LLC Has $74.22 Million Holdings in The PNC Financial Services Group, Inc $PNC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 340,307 shares of the financial services provider’s stock after acquiring an additional 3,378 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $74,220,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PNC. State Street Corp lifted its holdings in The PNC Financial Services Group by 0.5% in the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock worth $3,464,462,000 after purchasing an additional 85,291 shares during the last quarter. Capital International Investors boosted its position in The PNC Financial Services Group by 6.0% during the third quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock worth $2,177,318,000 after purchasing an additional 609,755 shares during the period. Viking Global Investors LP grew its holdings in The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after purchasing an additional 5,581,102 shares during the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $1,477,836,000. Finally, Invesco Ltd. raised its position in shares of The PNC Financial Services Group by 0.5% in the second quarter. Invesco Ltd. now owns 5,023,790 shares of the financial services provider’s stock valued at $936,535,000 after purchasing an additional 26,798 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PNC shares. TD Cowen upped their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. JPMorgan Chase & Co. boosted their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Finally, Barclays raised their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares of the company’s stock, valued at $4,415,066.67. This represents a 18.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the completion of the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. This represents a 79.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,186 shares of company stock worth $14,840,973 in the last three months. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2%

Shares of PNC stock opened at $201.71 on Monday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The firm’s fifty day simple moving average is $220.00 and its 200 day simple moving average is $205.12. The firm has a market capitalization of $81.37 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.77 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

The PNC Financial Services Group Profile

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.