Ritholtz Wealth Management Buys 1,156 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,853 shares of the financial services provider’s stock after purchasing an additional 1,156 shares during the quarter. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $4,793,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $25,000. Valley Wealth Managers Inc. raised its holdings in The PNC Financial Services Group by 20,000.0% in the 3rd 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 period. Quarry LP lifted its position in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 170 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley increased their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Finally, Stephens upped their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Trading Down 2.1 %

PNC opened at $196.23 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $77.86 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The firm has a 50 day simple moving average of $201.65 and a 200 day simple moving average of $186.67.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 14.97% and a return on equity of 10.88%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,030 shares of company stock worth $5,928,202. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group 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.