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

Tucker Asset Management LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 55.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,807 shares of the financial services provider’s stock after buying an additional 646 shares during the period. Tucker Asset Management LLC’s holdings in The PNC Financial Services Group were worth $280,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortis Group Advisors LLC increased its stake in The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after buying an additional 100 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 16.0% in the 4th quarter. EP Wealth Advisors LLC now owns 3,293 shares of the financial services provider’s stock worth $510,000 after buying an additional 453 shares during the period. Syon Capital LLC lifted its holdings in shares of The PNC Financial Services Group by 16.8% in the 4th quarter. Syon Capital LLC now owns 1,948 shares of the financial services provider’s stock worth $302,000 after buying an additional 280 shares during the period. Integrated Advisors Network LLC lifted its holdings in shares of The PNC Financial Services Group by 7.3% in the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after buying an additional 148 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in shares of The PNC Financial Services Group by 38.2% in the 4th quarter. V Square Quantitative Management LLC now owns 6,879 shares of the financial services provider’s stock worth $1,065,000 after buying an additional 1,901 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded down $0.66 during midday trading on Friday, reaching $151.09. The company had a trading volume of 887,888 shares, compared to its average volume of 1,534,140. The business’s 50-day simple moving average is $155.01 and its 200 day simple moving average is $151.88. The stock has a market cap of $60.12 billion, a P/E ratio of 12.69, a P/E/G ratio of 2.93 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $3.98 earnings per share. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.10%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PNC shares. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. HSBC raised shares of 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 report on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Evercore ISI cut their price objective 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, StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.83.

Insider Buying and Selling

In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

About The PNC Financial Services Group

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.