Vicus Capital Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vicus Capital purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the first quarter, HoldingsChannel reports. The fund purchased 1,854 shares of the financial services provider’s stock, valued at approximately $300,000.

A number of other large investors have also recently bought and sold shares of PNC. BKM Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC raised its stake 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 in the last quarter. Finally, Core Wealth Advisors Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $155.48 on Friday. The firm has a market cap of $61.87 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-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 business’s fifty day moving average is $155.18 and its 200-day moving average is $152.91.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Bank of America upped 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 note on Wednesday, April 17th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $158.43.

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.