FFT Wealth Management LLC Invests $223,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

FFT Wealth Management LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,438 shares of the financial services provider’s stock, valued at approximately $223,000.

Other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.6 %

PNC traded up $0.99 during trading on Thursday, reaching $154.97. 103,676 shares of the company’s stock were exchanged, compared to its average volume of 2,066,736. The company’s fifty day moving average price is $153.18 and its 200-day moving average price is $144.07. The firm has a market capitalization of $61.65 billion, a PE ratio of 12.93, a P/E/G ratio of 1.73 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm posted $3.98 earnings per share. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred on 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 owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Bank of America lifted their price objective on 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. UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Company 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.