Oppenheimer Asset Management Inc. Has $6.90 Million Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Oppenheimer Asset Management Inc. grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 68.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,269 shares of the financial services provider's stock after purchasing an additional 15,923 shares during the period. Oppenheimer Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $6,902,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PNC. Mechanics Financial Corp bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $739,000. Premier Fund Managers Ltd boosted its holdings in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after purchasing an additional 13,700 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after purchasing an additional 3,100 shares during the period. Finally, PKS Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $357,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on PNC shares. TD Cowen started coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Barclays decreased their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased 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 report on Thursday, April 3rd. 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 for the company in a report on Wednesday, April 16th. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, six have assigned 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, the stock has an average rating of "Moderate Buy" and an average price target of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were bought at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 12,670 shares of company stock valued at $2,099,398. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

PNC stock traded up $3.30 during trading on Thursday, hitting $185.81. The company had a trading volume of 2,843,398 shares, compared to its average volume of 2,085,296. The firm has a market capitalization of $73.50 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.53 and a beta of 1.06. The business has a 50 day moving average of $170.79 and a 200 day moving average of $180.61. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two 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 1.08.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

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.