SevenBridge Financial Group LLC Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

SevenBridge Financial Group LLC raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,770 shares of the financial services provider’s stock after buying an additional 1,658 shares during the quarter. 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 modified their holdings of the company. Mechanics Financial Corp purchased a new position in The PNC Financial Services Group during the 4th quarter worth $541,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $739,000. Premier Fund Managers Ltd increased its holdings in shares of The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after acquiring an additional 13,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares in the company, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,662 shares of company stock valued at $2,559,389 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Barclays raised their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their target price for the stock from $206.00 to $202.00 in a research note on Monday. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Citigroup reduced their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Wells Fargo & Company cut their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $204.12.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $174.58 on Wednesday. The stock 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, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. 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 stock’s 50-day moving average price is $186.98 and its 200-day moving average price is $192.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders 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 was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 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.