Potomac Fund Management Inc. ADV Buys Shares of 6,296 The PNC Financial Services Group, Inc. (NYSE:PNC)

Potomac Fund Management Inc. ADV purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,296 shares of the financial services provider’s stock, valued at approximately $1,214,000. The PNC Financial Services Group comprises 1.1% of Potomac Fund Management Inc. ADV’s investment portfolio, making the stock its 25th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $30,000. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNC. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday. Citigroup lowered their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. 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. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, 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 report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $204.12.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $174.78, for a total value of $217,076.76. Following the transaction, the chief executive officer now owns 564,815 shares in the company, valued at $98,718,365.70. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 13,662 shares of company stock worth $2,559,389. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Down 0.7 %

Shares of The PNC Financial Services Group stock opened at $174.58 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The stock has a 50 day moving average price of $186.98 and a two-hundred day moving average price of $192.18. The stock has a market capitalization of $69.09 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.67%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

The PNC Financial Services Group Company 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.