LSV Asset Management Raises Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

LSV Asset Management boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 27,900 shares of the financial services provider’s stock after acquiring an additional 2,100 shares during the period. LSV Asset Management’s holdings in The PNC Financial Services Group were worth $4,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Merit Financial Group LLC boosted its holdings in The PNC Financial Services Group by 63.4% in the 4th quarter. Merit Financial Group LLC now owns 4,488 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,742 shares during the period. Bare Financial Services Inc bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $854,000. Benjamin F. Edwards & Company Inc. boosted its stake in The PNC Financial Services Group by 66.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 18,552 shares of the financial services provider’s stock worth $2,872,000 after purchasing an additional 7,435 shares during the period. Westover Capital Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $205,000. Finally, Natixis Advisors L.P. boosted its position in shares of The PNC Financial Services Group by 19.3% in the fourth quarter. Natixis Advisors L.P. now owns 303,386 shares of the financial services provider’s stock valued at $46,978,000 after acquiring an additional 49,086 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. UBS Group raised their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Trading Up 0.7 %

PNC opened at $157.24 on Thursday. 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 firm has a market capitalization of $62.55 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.77 and a beta of 1.16. The business has a 50 day simple moving average of $154.02 and a two-hundred day simple moving average of $145.39. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 business had revenue of $5.15 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.98 EPS. Analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.94%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

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.