PNC Financial Services Group, Inc. (NYSE:PNC) shares purchased by AE Wealth Management LLC


AE Wealth Management LLC increased its position in shares of The PNC Financial Services Group, Inc. (New York Stock Exchange: PNCGet a rating) by 1.9% during the first quarter, Holdings Channel.com reports. The fund held 18,393 shares of the financial services provider after acquiring 341 additional shares during the quarter. AE Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $3,393,000 at the end of the most recent reporting period.

A number of other large investors have also recently increased or reduced their stakes in PNC. Gradient Investments LLC increased its stake in The PNC Financial Services Group by 12.0% during the fourth quarter. Gradient Investments LLC now owns 476 shares of the financial services provider worth $95,000 after acquiring 51 additional shares during the period. Bank of New Hampshire increased its stake in The PNC Financial Services Group by 7.7% in the fourth quarter. Bank of New Hampshire now owns 2,095 shares of the financial services provider worth $420,000 after buying 150 more shares in the last quarter. Perkins Coie Trust Co increased its stake in The PNC Financial Services Group by 2.5% in the fourth quarter. Perkins Coie Trust Co now owns 22,983 shares of the financial services provider worth $4,608,000 after buying an additional 563 shares last quarter. IVC Wealth Advisors LLC bought a new position in The PNC Financial Services Group in Q4 for a value of approximately $201,000. Finally, Stock Yards Bank & Trust Co. increased its stake in The PNC Financial Services Group by 4.1% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 27,178 shares of the financial services provider worth $5,450,000 after buying 1,063 additional shares in the last quarter. 83.54% of the shares are currently held by hedge funds and other institutional investors.

A number of brokerages have weighed in on PNC recently. Morgan Stanley lowered its price target on PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a Monday, March 28 research note. Argus lowered its price target on PNC Financial Services Group from $245.00 to $220.00 in a Monday, April 18 research note. Wells Fargo & Company lowered its price target on PNC Financial Services Group from $227.00 to $202.00 and set an “overweight” rating on the stock in a research note on Friday. Raymond James lowered his price target on PNC Financial Services Group from $215.00 to $210.00 and gave the stock an “outperform” rating in a Monday, April 18 research note. To finish, StockNews.com launched coverage on the PNC Financial Services Group in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. One analyst rated the stock with a sell rating, nine issued a hold rating and seven gave the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $214.40.

Shares of The action of the PNC Financial Services group opened at $161.30 on Friday. The company has a market capitalization of $66.71 billion, a price/earnings ratio of 13.65, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a debt ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The PNC Financial Services Group, Inc. has a 52-week low of $149.51 and a 52-week high of $228.14. The stock has a 50-day simple moving average of $163.75 and a 200-day simple moving average of $185.97.

The financial services group PNC (New York Stock Exchange: PNCGet a rating) last released its results on Thursday, April 14. The financial services provider reported earnings per share of $3.29 for the quarter, beating the consensus estimate of $2.78 by $0.51. The PNC Financial Services group achieved a return on equity of 12.43% and a net margin of 26.14%. The company posted revenue of $4.69 billion in the quarter, versus analyst estimates of $4.72 billion. During the same period of the previous year, the company achieved EPS of $4.10. The company’s revenue for the quarter increased 11.2% year over year. As a group, equity research analysts expect PNC Financial Services Group, Inc. to post earnings per share of 14.19 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 5. Investors of record on Wednesday, July 13 will receive a dividend of $1.50. This represents an annualized dividend of $6.00 and a yield of 3.72%. The dividend payout ratio (DPR) of the PNC Financial Services group is currently 50.76%.

In other news from The PNC Financial Services Group, EVP Deborah Guild sold 1,257 shares of PNC Financial Services Group in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the transaction, the executive vice president now directly owns 23,360 shares of the company, valued at approximately $3,984,281.60. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, director Robert A. Niblock purchased 2,000 shares of the company in a trade on Friday, May 6. The shares were acquired at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following completion of the transaction, the administrator now owns 6,063 shares of the company, valued at $1,012,945.41. Disclosure of this purchase can be found here. 0.34% of the shares are currently held by insiders.

PNC Financial Services group profile (Get a rating)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

See also

Want to see what other hedge funds hold PNC? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The PNC Financial Services Group, Inc. (New York Stock Exchange: PNCGet a rating).

Institutional ownership by quarter for PNC Financial Services Group (NYSE:PNC)



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