Carnegie Capital Asset Management LLC Buys 129 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Carnegie Capital Asset Management LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,453 shares of the financial services provider’s stock after purchasing an additional 129 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in The PNC Financial Services Group were worth $1,309,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC grew its stake in The PNC Financial Services Group by 6.7% in the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after buying an additional 893,808 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after purchasing an additional 860,489 shares in the last quarter. Geode Capital Management LLC grew its position in shares of The PNC Financial Services Group by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock valued at $915,146,000 after purchasing an additional 171,876 shares in the last quarter. Invesco Ltd. grew its position in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after purchasing an additional 484,475 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of The PNC Financial Services Group by 2.0% during the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock valued at $577,267,000 after purchasing an additional 93,636 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. UBS Group boosted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.10.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $149.56 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $59.50 billion, a PE ratio of 11.69, a P/E/G ratio of 1.73 and a beta of 1.18. The firm has a fifty day simple moving average of $151.88 and a two-hundred day simple moving average of $141.47. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.49 earnings per share. Research analysts expect that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.