Harvest Fund Management Co. Ltd Has $232,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Harvest Fund Management Co. Ltd lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 143.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,496 shares of the financial services provider’s stock after buying an additional 881 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in The PNC Financial Services Group were worth $232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $25,000. BKM Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in shares of 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 worth $28,000 after purchasing an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. UBS Group increased 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 price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $156.63.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on 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 owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $156.80 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $152.48 and a two-hundred day moving average price of $142.88. The firm has a market capitalization of $62.38 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.78 and a beta of 1.18.

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, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.