Dynasty Wealth Management LLC Invests $225,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Dynasty Wealth Management LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,390 shares of the financial services provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avenir Corp bought a new position in The PNC Financial Services Group in the 1st quarter valued at $205,000. Industrial Alliance Investment Management Inc. raised its position in shares of The PNC Financial Services Group by 27.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 2,497 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 537 shares during the last quarter. Interval Partners LP raised its position in shares of The PNC Financial Services Group by 22.9% during the first quarter. Interval Partners LP now owns 232,198 shares of the financial services provider’s stock worth $37,523,000 after acquiring an additional 43,264 shares during the last quarter. Black Maple Capital Management LP bought a new stake in shares of The PNC Financial Services Group during the first quarter worth $1,875,000. Finally, Silvercrest Asset Management Group LLC raised its position in shares of The PNC Financial Services Group by 2.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 647,588 shares of the financial services provider’s stock worth $104,650,000 after acquiring an additional 13,104 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of recent research reports. UBS Group boosted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Bank of America lifted their price objective on The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $176.09.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. In the last three months, insiders sold 8,903 shares of company stock worth $1,466,406. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $181.10 on Thursday. The firm has a market cap of $72.06 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15. The stock’s 50-day moving average is $161.35 and its 200-day moving average is $155.70. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $182.84. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company posted $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% on a year-over-year basis. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

The PNC Financial Services Group Company 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.