iSAM Funds UK Ltd bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,061 shares of the financial services provider's stock, valued at approximately $1,747,000. The PNC Financial Services Group accounts for 1.3% of iSAM Funds UK Ltd's holdings, making the stock its 4th biggest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Vident Advisory LLC grew its holdings in shares of The PNC Financial Services Group by 8.4% in the 4th quarter. Vident Advisory LLC now owns 9,660 shares of the financial services provider's stock worth $1,863,000 after acquiring an additional 748 shares during the period. Teza Capital Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $2,797,000. True Wealth Design LLC grew its holdings in The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares during the last quarter. Triune Financial Partners LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth $206,000. Finally, Strategic Wealth Partners Ltd. lifted its position in shares of The PNC Financial Services Group by 32.5% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 65,099 shares of the financial services provider's stock valued at $12,722,000 after acquiring an additional 15,964 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on PNC shares. Morgan Stanley decreased their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Keefe, Bruyette & Woods decreased their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.67.
Get Our Latest Stock Analysis on PNC
The PNC Financial Services Group Price Performance
Shares of PNC opened at $178.57 on Tuesday. 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market cap of $70.64 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.55 and a beta of 1.06. The stock has a 50 day moving average of $165.01 and a 200-day moving average of $186.13.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.
Insider Transactions at The PNC Financial Services Group
In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $179.14, for a total transaction of $222,491.88. Following the sale, the chief executive officer now owns 556,121 shares of the company's stock, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the transaction, the director now directly owns 2,009 shares in the company, valued at $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 17,638 shares of company stock worth $3,012,095. Insiders own 0.41% of the company's stock.
About The PNC Financial Services Group
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Free Report)
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.
See Also
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report).
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