Sax Wealth Advisors LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sax Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,588 shares of the financial services provider’s stock, valued at approximately $306,000.

A number of other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC grew its stake in shares of The PNC Financial Services Group by 572.1% during the 4th quarter. Merit Financial Group LLC now owns 11,157 shares of the financial services provider’s stock valued at $2,152,000 after purchasing an additional 9,497 shares during the period. CNB Bank grew its position in The PNC Financial Services Group by 12.1% during the fourth quarter. CNB Bank now owns 4,224 shares of the financial services provider’s stock valued at $815,000 after buying an additional 456 shares during the period. Avanza Fonder AB purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $5,652,000. Everpar Advisors LLC raised its position in The PNC Financial Services Group by 1.8% in the fourth quarter. Everpar Advisors LLC now owns 4,389 shares of the financial services provider’s stock worth $846,000 after acquiring an additional 77 shares during the period. Finally, Empirical Asset Management LLC boosted its stake in shares of The PNC Financial Services Group by 7.2% during the 4th quarter. Empirical Asset Management LLC now owns 14,100 shares of the financial services provider’s stock worth $2,719,000 after acquiring an additional 943 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNC. Evercore ISI raised their target price 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 lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the transaction, the chief executive officer now directly owns 526,313 shares in the company, valued at approximately $101,515,251.44. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock worth $5,928,202 over the last three months. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 0.9 %

Shares of PNC opened at $198.36 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 quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day moving average is $201.40 and its 200 day moving average is $187.03. The stock has a market capitalization of $78.71 billion, a PE ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.16 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.23%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

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.