1,762 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,762 shares of the financial services provider’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. OFI Invest Asset Management purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth about $25,000. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group reduced their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Evercore ISI cut their price target 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. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Down 1.1 %

The PNC Financial Services Group stock opened at $156.30 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The stock’s fifty day simple moving average is $152.61 and its 200-day simple moving average is $142.97. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $62.18 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.79 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business posted $3.98 EPS. The business’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

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.