1,854 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by Vicus Capital

Vicus Capital purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,854 shares of the financial services provider’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $28,000. Finally, Fortis Group Advisors LLC increased its stake in The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on PNC. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group lowered their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $158.43.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $155.48 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $155.18 and a 200-day moving average of $152.91. The firm has a market cap of $61.87 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $3.98 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

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.