The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,057 shares of the financial services provider’s stock after buying an additional 5,329 shares during the period. Apollon Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $3,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of The PNC Financial Services Group by 350.0% during the fourth 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 in the last quarter. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s 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 sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $0.28 during trading on Tuesday, hitting $156.15. 1,082,264 shares of the stock were exchanged, compared to its average volume of 2,047,598. The stock’s fifty day moving average is $153.82 and its 200 day moving average is $145.08. The stock has a market cap of $62.12 billion, a PE ratio of 13.13, a P/E/G ratio of 1.77 and a beta of 1.16. 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, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.98 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. Jefferies Financial Group dropped their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, UBS Group lifted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.