Ritholtz Wealth Management Acquires 6,687 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 47.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 20,875 shares of the financial services provider’s stock after purchasing an additional 6,687 shares during the quarter. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $3,233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Well Done LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $247,000. Planned Solutions Inc. acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $84,000. IFG Advisory LLC raised its position in shares of The PNC Financial Services Group by 32.5% in the 4th quarter. IFG Advisory LLC now owns 3,076 shares of the financial services provider’s stock valued at $476,000 after buying an additional 755 shares in the last quarter. Columbia Trust Co 01012016 raised its position in shares of The PNC Financial Services Group by 11.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,762 shares of the financial services provider’s stock valued at $1,512,000 after buying an additional 982 shares in the last quarter. Finally, Schechter Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 2.6% in the 4th quarter. Schechter Investment Advisors LLC now owns 5,361 shares of the financial services provider’s stock valued at $830,000 after buying an additional 134 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday. UBS Group upped their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, December 8th. Odeon Capital Group upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective for the company in a research report on Thursday, December 14th. Finally, Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $152.87.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $161.63 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day moving average price of $149.96 and a two-hundred day moving average price of $138.25. The firm has a market capitalization of $64.30 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.84 and a beta of 1.17. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.

About The PNC Financial Services Group

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.