Global Retirement Partners LLC Acquires 2,568 Shares of PNC Financial Services Group Inc (PNC)

Global Retirement Partners LLC grew its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 349.4% during the first quarter, Holdings Channel reports. The firm owned 3,303 shares of the financial services provider’s stock after acquiring an additional 2,568 shares during the quarter. Global Retirement Partners LLC’s holdings in PNC Financial Services Group were worth $405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PNC Financial Services Group in the first quarter valued at approximately $25,000. Field & Main Bank acquired a new stake in shares of PNC Financial Services Group in the first quarter valued at approximately $25,000. Executive Wealth Management LLC acquired a new stake in shares of PNC Financial Services Group in the fourth quarter valued at approximately $29,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of PNC Financial Services Group in the fourth quarter valued at approximately $36,000. Finally, Athena Capital Advisors LLC acquired a new position in PNC Financial Services Group during the fourth quarter worth $37,000. Institutional investors own 82.67% of the company’s stock.

In other PNC Financial Services Group news, insider Joseph E. Rockey sold 6,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the transaction, the insider now directly owns 24,747 shares in the company, valued at $3,340,845. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff acquired 500 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was bought at an average price of $125.69 per share, for a total transaction of $62,845.00. The disclosure for this purchase can be found here. 0.37% of the stock is owned by insiders.

A number of brokerages recently weighed in on PNC. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Morgan Stanley boosted their target price on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Barclays boosted their target price on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Zacks Investment Research downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, Macquarie upgraded shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 6th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $143.63.

Shares of PNC opened at $129.62 on Friday. The firm has a market cap of $58.09 billion, a P/E ratio of 12.10, a PEG ratio of 1.50 and a beta of 1.09. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $152.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.88.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the company earned $2.43 earnings per share. On average, analysts predict that PNC Financial Services Group Inc will post 11.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Tuesday, April 16th were issued a $0.95 dividend. The ex-dividend date was Monday, April 15th. This represents a $3.80 annualized dividend and a dividend yield of 2.93%. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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