Wealth Alliance Has $2.05 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wealth Alliance cut its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,623 shares of the financial services provider’s stock after selling 997 shares during the period. Wealth Alliance’s holdings in The PNC Financial Services Group were worth $2,049,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PNC. Exchange Traded Concepts LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $70,000. Ledyard National Bank increased its stake in shares of The PNC Financial Services Group by 2.8% during the 3rd quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 64 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group by 5.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 86 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of The PNC Financial Services Group by 49.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,519 shares of the financial services provider’s stock worth $2,499,000 after purchasing an additional 4,446 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of The PNC Financial Services Group by 2.2% during the 3rd quarter. Signaturefd LLC now owns 7,068 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 155 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on shares of 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. Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Morgan Stanley upped their price target 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. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $194.19 on Thursday. The company has a 50 day moving average of $196.55 and a 200-day moving average of $191.49. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. 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 company has a market cap of $77.05 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 13,662 shares of company stock valued at $2,730,549. Company insiders own 0.42% of the company’s stock.

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.