Leigh Baldwin & CO. LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Leigh Baldwin & CO. LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,063 shares of the financial services provider's stock, valued at approximately $1,555,000. The PNC Financial Services Group makes up about 0.9% of Leigh Baldwin & CO. LLC's holdings, making the stock its 18th biggest position.

Several other institutional investors have also bought and sold shares of PNC. Vanguard Group Inc. grew its holdings in shares of The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the last quarter. Franklin Resources Inc. grew its stake in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after buying an additional 726,115 shares in the last quarter. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $1,352,151,000. Finally, Northern Trust Corp boosted its holdings in shares of The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after acquiring an additional 608,375 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

PNC has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective 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. Citigroup cut their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Morgan Stanley decreased their price objective on shares of 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. lowered their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Trading Down 1.3%

PNC traded down $2.22 during mid-day trading on Wednesday, hitting $174.02. The stock had a trading volume of 1,591,519 shares, compared to its average volume of 2,054,956. The stock's fifty day simple moving average is $165.14 and its 200-day simple moving average is $185.22. The firm has a market capitalization of $68.84 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS 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. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is 45.20%.

Insider Buying and Selling

In other news, EVP Kieran John Fallon sold 1,492 shares of the firm'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 transaction of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares of the company's stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 601 shares of the stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total transaction of $96,160.00. Following the transaction, the chief executive officer now owns 563,573 shares of the company's stock, valued at $90,171,680. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,638 shares of company stock worth $2,983,901 over the last ninety days. Company insiders own 0.41% of the company's stock.

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.