Sapient Capital LLC Acquires Shares of 1,467 The PNC Financial Services Group, Inc. (NYSE:PNC)

Sapient Capital LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,467 shares of the financial services provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Rockline Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter valued at approximately $323,000. AQR Capital Management LLC boosted its position in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after buying an additional 67,490 shares during the period. Trust Point Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.2 %

Shares of The PNC Financial Services Group stock opened at $156.15 on Wednesday. The firm has a market cap of $62.12 billion, a PE ratio of 13.11, a P/E/G ratio of 1.77 and a beta of 1.16. The stock has a fifty day moving average price of $154.02 and a 200-day moving average price of $145.39. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick 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 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 analyst estimates of $5.19 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The PNC Financial Services Group’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PNC. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Jefferies Financial Group dropped their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, StockNews.com cut The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.02.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

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.