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

Transcend Capital Advisors LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,244 shares of the financial services provider’s stock after acquiring an additional 89 shares during the period. Transcend Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $502,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in The PNC Financial Services Group during the third quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The shares were 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 of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $155.78 on Tuesday. The firm has a 50-day moving average of $152.90 and a two-hundred day moving average of $143.75. 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 stock has a market cap of $61.97 billion, a P/E ratio of 13.08, a PEG ratio of 1.76 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Analysts Set New Price Targets

PNC has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted 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 report on Monday, April 1st. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. UBS Group raised their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group cut their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $156.63.

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.