US Asset Management LLC Buys Shares of 2,310 The PNC Financial Services Group, Inc. (NYSE:PNC)

US Asset Management LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, Holdings Channel reports. The fund acquired 2,310 shares of the financial services provider’s stock, valued at approximately $358,000.

A number of other large investors have also modified their holdings of PNC. FMR LLC increased its stake in The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after acquiring an additional 893,808 shares during the last quarter. International Assets Investment Management LLC boosted its stake in The PNC Financial Services Group by 15,539.2% during the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after buying an additional 639,903 shares during the period. Invesco Ltd. raised its stake in shares of The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of The PNC Financial Services Group by 44.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock worth $189,297,000 after purchasing an additional 477,367 shares during the period. Finally, Anchor Capital Advisors LLC raised its position in The PNC Financial Services Group by 601.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock valued at $60,885,000 after purchasing an additional 337,105 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $0.09 during midday trading on Thursday, reaching $157.12. 1,558,629 shares of the company traded hands, compared to its average volume of 2,033,352. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The firm has a market cap of $62.50 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The firm’s 50 day simple moving average is $154.25 and its two-hundred day simple moving average is $145.47. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.64 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 Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PNC shares. StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Evercore ISI reduced their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $157.02.

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.