Golden State Wealth Management LLC Has $337,000 Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Golden State Wealth Management LLC lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 414.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,920 shares of the financial services provider’s stock after purchasing an additional 1,547 shares during the period. Golden State Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $337,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its stake in shares of The PNC Financial Services Group by 0.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 59 shares during the last quarter. True Wealth Design LLC raised its holdings in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 59 shares during the period. Dynasty Wealth Management LLC raised its holdings in The PNC Financial Services Group by 4.5% in the 4th quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 64 shares during the period. Metis Global Partners LLC raised its holdings in The PNC Financial Services Group by 0.4% in the 4th quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider’s stock valued at $3,584,000 after acquiring an additional 67 shares during the period. Finally, Sandy Spring Bank raised its holdings in The PNC Financial Services Group by 1.4% in the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider’s stock valued at $945,000 after acquiring an additional 67 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company lowered their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Royal Bank Of Canada lowered their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.67.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $185.92 on Friday. The company has a 50 day moving average of $172.14 and a 200-day moving average of $180.35. The PNC Financial Services Group, Inc has a 1-year low of $145.12 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 1.08. The company has a market cap of $73.55 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $163.16, for a total transaction of $202,644.72. Following the completion of the transaction, the chief executive officer now directly owns 558,605 shares of the company’s stock, valued at approximately $91,141,991.80. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,428 shares of company stock valued at $1,882,322. Company insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

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.