The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 436.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,513 shares of the financial services provider's stock after purchasing an additional 9,366 shares during the quarter. Lecap Asset Management Ltd.'s holdings in The PNC Financial Services Group were worth $2,024,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Fourth Dimension Wealth LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $41,000. PBMares Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $284,000. Hi Line Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 2.2% during the first quarter. Hi Line Capital Management LLC now owns 4,524 shares of the financial services provider's stock worth $795,000 after purchasing an additional 99 shares during the last quarter. Community Financial Services Group LLC boosted its holdings in shares of The PNC Financial Services Group by 8.1% during the first quarter. Community Financial Services Group LLC now owns 37,135 shares of the financial services provider's stock worth $6,527,000 after purchasing an additional 2,776 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 10.3% during the first quarter. AssuredPartners Investment Advisors LLC now owns 4,226 shares of the financial services provider's stock worth $743,000 after purchasing an additional 396 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PNC. Barclays reduced their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Royal Bank Of Canada reduced their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group reduced 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 report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reduced their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.67.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director now owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $155.27, for a total value of $99,528.07. Following the completion of the transaction, the chief executive officer now owns 564,174 shares of the company's stock, valued at $87,599,296.98. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,428 shares of company stock valued at $1,882,322. 0.41% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.2%

NYSE:PNC traded up $0.41 during mid-day trading on Friday, hitting $185.92. The company had a trading volume of 2,772,359 shares, compared to its average volume of 2,093,324. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a market capitalization of $73.55 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.56 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. The business has a fifty day simple moving average of $172.14 and a 200-day simple moving average of $180.35.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Equities analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

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.