Legacy Capital Wealth Partners LLC Sells 102 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Legacy Capital Wealth Partners LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,887 shares of the financial services provider’s stock after selling 102 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in PNC. Exchange Traded Concepts LLC bought a new stake in The PNC Financial Services Group in the third quarter worth about $70,000. Creative Planning lifted its stake in The PNC Financial Services Group by 8.7% in the third quarter. Creative Planning now owns 75,927 shares of the financial services provider’s stock worth $14,035,000 after purchasing an additional 6,055 shares during the last quarter. Good Life Advisors LLC bought a new stake in The PNC Financial Services Group in the third quarter worth about $639,000. Global Retirement Partners LLC lifted its stake in The PNC Financial Services Group by 4.4% in the third quarter. Global Retirement Partners LLC now owns 13,378 shares of the financial services provider’s stock worth $2,473,000 after purchasing an additional 564 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $193.91 on Friday. The firm has a market cap of $76.94 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.64 and a beta of 1.16. The company’s 50 day moving average is $197.11 and its 200 day moving average is $191.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,730,549. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PNC. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $205.00.

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.