Graypoint LLC Has $585,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Graypoint LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,032 shares of the financial services provider’s stock after purchasing an additional 218 shares during the period. Graypoint LLC’s holdings in The PNC Financial Services Group were worth $585,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PNC. Acadian Asset Management LLC grew its position in The PNC Financial Services Group by 8,316.8% in the 2nd quarter. Acadian Asset Management LLC now owns 15,487 shares of the financial services provider’s stock valued at $2,406,000 after purchasing an additional 15,303 shares during the period. Headlands Technologies LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $92,000. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth about $33,000. DekaBank Deutsche Girozentrale lifted its position in The PNC Financial Services Group by 0.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 110,410 shares of the financial services provider’s stock valued at $16,567,000 after acquiring an additional 422 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in The PNC Financial Services Group by 3.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 12,072 shares of the financial services provider’s stock valued at $1,877,000 after purchasing an additional 442 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the transaction, the chief executive officer now owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,030 shares of company stock valued at $5,925,333. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 2.8 %

Shares of The PNC Financial Services Group stock opened at $189.31 on Friday. The stock has a market capitalization of $75.11 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $201.47 and its 200 day simple moving average is $185.77.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company posted $3.60 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PNC. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Citigroup upped their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Stephens raised their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $203.29.

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.