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

DMC Group LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,398 shares of the financial services provider’s stock after buying an additional 382 shares during the quarter. DMC Group LLC’s holdings in The PNC Financial Services Group were worth $655,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Albion Financial Group UT purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. Valley Wealth Managers Inc. lifted its holdings in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Finally, Quarry LP grew its position in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,413 shares of company stock worth $6,021,569. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

PNC stock opened at $202.29 on Thursday. The company has a market cap of $80.26 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average price of $200.14 and a two-hundred day moving average price of $189.26. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on 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. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Evercore ISI raised their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus 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.