WealthTrust Axiom LLC Grows Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

WealthTrust Axiom LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,477 shares of the financial services provider’s stock after purchasing an additional 1,595 shares during the period. WealthTrust Axiom LLC’s holdings in The PNC Financial Services Group were worth $1,158,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group in the fourth quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PNC. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating 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 target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. StockNews.com lowered shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Finally, UBS Group upped their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Trading Down 1.5 %

Shares of NYSE:PNC traded down $2.34 during midday trading on Tuesday, hitting $153.44. 836,791 shares of the stock traded hands, compared to its average volume of 2,088,034. The stock has a market capitalization of $61.04 billion, a PE ratio of 13.08, a P/E/G ratio of 1.76 and a beta of 1.18. The business’s 50 day moving average is $152.90 and its two-hundred day moving average is $143.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

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.