Charles Schwab Investment Management Inc. Buys 68,262 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Charles Schwab Investment Management Inc. lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,336,842 shares of the financial services provider’s stock after buying an additional 68,262 shares during the period. Charles Schwab Investment Management Inc. owned about 0.59% of The PNC Financial Services Group worth $361,860,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC grew its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. Morgan Stanley upped their price objective 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. Evercore ISI decreased their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. UBS Group boosted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. The Goldman Sachs Group upped their target price on 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. Finally, Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $157.02.

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 stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, 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. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE PNC traded up $0.68 during trading on Wednesday, hitting $156.83. The stock had a trading volume of 427,421 shares, compared to its average volume of 2,029,172. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a fifty day moving average of $154.02 and a two-hundred day moving average of $145.39. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market capitalization of $62.39 billion, a PE ratio of 13.11, a PEG ratio of 1.77 and a beta of 1.16.

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, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the company posted $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.95%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

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.