12,891 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by CFC Planning Co LLC

CFC Planning Co LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,891 shares of the financial services provider’s stock, valued at approximately $2,486,000. The PNC Financial Services Group accounts for 2.7% of CFC Planning Co LLC’s holdings, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Root Financial Partners LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $346,000. Figure 8 Investment Strategies LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $257,000. Catalyst Financial Partners LLC grew its stake in The PNC Financial Services Group by 5.1% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,329 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 64 shares in the last quarter. Asset Management One Co. Ltd. increased its position in The PNC Financial Services Group by 2.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 158,514 shares of the financial services provider’s stock worth $30,638,000 after purchasing an additional 3,395 shares during the last quarter. Finally, Windward Private Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $208,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 13,662 shares of company stock valued at $2,730,549. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent research reports. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Compass Point increased their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company raised their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $195.23 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average price of $197.68 and a 200 day moving average price of $190.90. The company has a market cap of $77.46 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.28%. The PNC Financial Services Group’s payout ratio is 46.55%.

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.