MassMutual Private Wealth & Trust FSB Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

MassMutual Private Wealth & Trust FSB raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,988 shares of the financial services provider’s stock after acquiring an additional 3,411 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in The PNC Financial Services Group were worth $6,169,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PNC. Mercer Global Advisors Inc. ADV boosted its holdings in The PNC Financial Services Group by 9.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock valued at $4,588,000 after purchasing an additional 2,670 shares during the period. XTX Topco Ltd purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $512,000. Intech Investment Management LLC boosted its stake in shares of The PNC Financial Services Group by 65.9% in the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock valued at $467,000 after buying an additional 1,193 shares during the period. Ieq Capital LLC grew its position in shares of The PNC Financial Services Group by 22.0% during the second quarter. Ieq Capital LLC now owns 14,976 shares of the financial services provider’s stock worth $2,328,000 after buying an additional 2,697 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of The PNC Financial Services Group by 16.6% during the second quarter. Canada Pension Plan Investment Board now owns 334,744 shares of the financial services provider’s stock worth $52,046,000 after buying an additional 47,618 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $198.36 on Monday. The company’s 50 day simple moving average is $201.40 and its 200-day simple moving average is $187.23. The firm has a market cap of $78.71 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued 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 company 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 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.16 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday. Barclays boosted 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. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI upped their price objective on 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. Finally, Morgan Stanley raised their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock valued at $5,928,202 in the last ninety days. 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.