Crewe Advisors LLC Purchases New Stake in PNC Financial Services Group Inc (PNC)

Crewe Advisors LLC purchased a new stake in PNC Financial Services Group Inc (NYSE:PNC) in the fourth quarter, HoldingsChannel reports. The fund purchased 932 shares of the financial services provider’s stock, valued at approximately $134,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC raised its position in PNC Financial Services Group by 23.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,347 shares of the financial services provider’s stock valued at $339,000 after buying an additional 453 shares during the last quarter. Mariner Wealth Advisors LLC raised its position in PNC Financial Services Group by 37.9% in the 4th quarter. Mariner Wealth Advisors LLC now owns 35,782 shares of the financial services provider’s stock valued at $5,162,000 after buying an additional 9,840 shares during the last quarter. Wealthfront Inc. raised its position in PNC Financial Services Group by 7.0% in the 4th quarter. Wealthfront Inc. now owns 14,762 shares of the financial services provider’s stock valued at $2,130,000 after buying an additional 964 shares during the last quarter. Tower Research Capital LLC TRC raised its position in PNC Financial Services Group by 340.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,058 shares of the financial services provider’s stock valued at $1,163,000 after buying an additional 6,228 shares during the last quarter. Finally, BlackRock Inc. raised its position in PNC Financial Services Group by 1.5% in the 4th quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock valued at $4,066,361,000 after buying an additional 402,904 shares during the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.

In other PNC Financial Services Group news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $140.98, for a total value of $704,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Hannon sold 8,011 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total value of $1,235,296.20. Following the completion of the transaction, the insider now owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The disclosure for this sale can be found here. Insiders have sold a total of 103,894 shares of company stock valued at $14,897,513 in the last quarter. 0.43% of the stock is owned by corporate insiders.

PNC Financial Services Group Inc (NYSE PNC) opened at $159.08 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $75,244.84, a price-to-earnings ratio of 18.69, a PEG ratio of 1.48 and a beta of 0.93. PNC Financial Services Group Inc has a 12 month low of $115.25 and a 12 month high of $160.81.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.09. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.97 EPS. research analysts forecast that PNC Financial Services Group Inc will post 10.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, January 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.89%. PNC Financial Services Group’s payout ratio is 28.85%.

A number of research firms recently commented on PNC. Morgan Stanley increased their price target on PNC Financial Services Group from $165.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. BMO Capital Markets restated a “buy” rating on shares of PNC Financial Services Group in a research note on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of PNC Financial Services Group in a research note on Tuesday, January 16th. Argus upped their price objective on PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada upped their price objective on PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research note on Friday, January 12th. Eighteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $145.98.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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