The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.2% in the fourth quarter, Holdings Channel reports. The fund owned 21,770 shares of the financial services provider’s stock after buying an additional 1,658 shares during the period. SevenBridge Financial Group LLC’s holdings in The PNC Financial Services Group were worth $4,337,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 53 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after buying an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its stake in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares during the period. Finally, Red Wave Investments LLC grew its holdings in shares of The PNC Financial Services Group by 3.1% during the third quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $353,000 after buying an additional 58 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PNC shares. Citigroup lowered their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $204.12.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE PNC opened at $174.58 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average is $186.98 and its two-hundred day moving average is $192.18. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a market capitalization of $69.09 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the transaction, the chief executive officer now owns 567,299 shares of the company’s stock, valued at $97,093,223.85. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 13,662 shares of company stock valued at $2,559,389. 0.41% of the stock is owned by insiders.

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.