Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 53 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,248 shares of the financial services provider’s stock after purchasing an additional 53 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in The PNC Financial Services Group were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $25,000. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter worth $30,000. Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Quarry LP lifted its stake in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth about $51,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Morgan Stanley upped their price objective 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. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued 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.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the transaction, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock worth $6,021,569 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $202.29 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average of $200.14 and a 200 day moving average of $189.26. The firm has a market capitalization of $80.26 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm posted $3.16 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

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.