Certuity LLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Certuity LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3,623.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,911 shares of the financial services provider’s stock after buying an additional 101,120 shares during the quarter. The PNC Financial Services Group comprises about 1.6% of Certuity LLC’s holdings, making the stock its 16th largest position. Certuity LLC’s holdings in The PNC Financial Services Group were worth $16,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PNC. FMR LLC lifted its holdings in shares of The PNC Financial Services Group by 6.7% in the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after buying an additional 893,808 shares during the period. International Assets Investment Management LLC grew its position in shares of The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares during the last quarter. Invesco Ltd. increased its stake in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after purchasing an additional 484,475 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 44.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock worth $189,297,000 after purchasing an additional 477,367 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its stake in The PNC Financial Services Group by 601.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock valued at $60,885,000 after buying an additional 337,105 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Bank of America lifted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Evercore ISI reduced their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Three equities 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 stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Down 1.2 %

Shares of PNC stock traded down $1.94 on Tuesday, hitting $153.84. The stock had a trading volume of 711,971 shares, compared to its average volume of 2,086,700. 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 capitalization of $61.20 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.76 and a beta of 1.18. 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’s 50 day moving average is $152.90 and its 200-day moving average is $143.75.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm earned $3.98 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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. This represents a $6.20 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.