Everence Capital Management Inc. Buys 2,430 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Everence Capital Management Inc. lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,561 shares of the financial services provider’s stock after acquiring an additional 2,430 shares during the period. Everence Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $2,100,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PNC. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group during the third quarter worth $25,000. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PNC. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the company an “underperform” rating in a research note on Friday, April 5th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $157.10.

Insider Activity

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $146.59 on Wednesday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The firm has a market cap of $58.31 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.72 and a beta of 1.18. The firm’s 50-day simple moving average is $151.82 and its 200 day simple moving average is $141.64. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.05. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.23%. The PNC Financial Services Group’s payout ratio is currently 48.48%.

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.