Private Advisor Group LLC Acquires 414 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Private Advisor Group LLC grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,280 shares of the financial services provider’s stock after acquiring an additional 414 shares during the quarter. Private Advisor Group LLC’s holdings in The PNC Financial Services Group were worth $9,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Partners II LLC raised its stake in The PNC Financial Services Group by 16.5% during the 3rd quarter. Advisor Partners II LLC now owns 17,844 shares of the financial services provider’s stock valued at $2,191,000 after buying an additional 2,523 shares during the last quarter. Rockland Trust Co. increased its position in shares of The PNC Financial Services Group by 26.4% in the 3rd quarter. Rockland Trust Co. now owns 9,886 shares of the financial services provider’s stock valued at $1,214,000 after acquiring an additional 2,062 shares during the period. Keel Point LLC grew its holdings in The PNC Financial Services Group by 9.2% during the third quarter. Keel Point LLC now owns 1,833 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 154 shares during the period. CENTRAL TRUST Co increased its stake in shares of The PNC Financial Services Group by 5.4% during the third quarter. CENTRAL TRUST Co now owns 13,196 shares of the financial services provider’s stock worth $1,620,000 after purchasing an additional 674 shares in the last quarter. Finally, Traverso Chambers Private Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 5.3% in the third quarter. Traverso Chambers Private Wealth Management LLC now owns 3,571 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 181 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group 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 completion of the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.2 %

Shares of NYSE:PNC traded down $0.35 during midday trading on Wednesday, reaching $155.80. The company had a trading volume of 27,767 shares, compared to its average volume of 2,024,652. The firm has a market cap of $61.98 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The company has a fifty day simple moving average of $154.02 and a two-hundred day simple moving average of $145.39. 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 PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 period in the prior year, the business posted $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group decreased their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Finally, Evercore ISI cut their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $157.02.

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.