Ensign Peak Advisors Inc Raises Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ensign Peak Advisors Inc boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 277,755 shares of the financial services provider's stock after acquiring an additional 49,464 shares during the period. Ensign Peak Advisors Inc owned 0.07% of The PNC Financial Services Group worth $53,565,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $25,000. Richardson Financial Services Inc. lifted its position in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $30,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $2.74 during trading hours on Tuesday, reaching $177.74. The stock had a trading volume of 2,515,380 shares, compared to its average volume of 2,035,176. The stock has a market capitalization of $70.31 billion, a PE ratio of 12.93, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a 50 day moving average price of $164.63 and a two-hundred day moving average price of $186.48. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.60%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Activity

In other news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 16,396 shares of company stock valued at $2,789,603 in the last ninety days. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNC. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Barclays dropped their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Citigroup reduced their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Stephens reaffirmed an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $200.88.

The PNC Financial Services Group 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.