Pinnacle Wealth Management Advisory Group LLC Has $2.62 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

by · The Cerbat Gem

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNCFree Report) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,545 shares of the financial services provider’s stock after acquiring an additional 2,977 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Quarry LP bought a new position in The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Westfuller Advisors LLC bought a new position in The PNC Financial Services Group in the 3rd quarter valued at approximately $34,000. Beacon Financial Strategies CORP bought a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $35,000. JPL Wealth Management LLC bought a new position in The PNC Financial Services Group in the 3rd quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the completion of the transaction, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares of the company’s stock, valued at $4,415,066.67. The trade was a 18.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,186 shares of company stock worth $14,840,973 over the last ninety days. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PNC. Barclays increased their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday. Bank of America increased 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. TD Cowen increased their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.72.

Check Out Our Latest Analysis on PNC

The PNC Financial Services Group Price Performance

PNC stock opened at $220.92 on Monday. The company has a fifty day moving average price of $213.91 and a 200-day moving average price of $208.57. The company has a market capitalization of $89.11 billion, a P/E ratio of 12.84, a PEG ratio of 0.92 and a beta of 0.94. The PNC Financial Services Group, Inc has a 52-week low of $163.11 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The firm 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 revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.51 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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

The PNC Financial Services Group Company Profile

(Free Report)

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.

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