The PNC Financial Services Group, Inc $PNC Shares Purchased by &PARTNERS

Key Points

• &PARTNERS increased its stake in PNC by 10.9% in the fourth quarter, buying 31,354 more shares and bringing its total holding to 318,508 shares worth about $66.5 million.
• PNC posted a strong quarterly earnings beat, reporting $4.32 EPS versus the $3.92 estimate, while revenue rose 13.1% year over year to $6.17 billion.
• The company also paid a $1.70 quarterly dividend recently, equal to an annualized yield of about 2.9%, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $246.72.

&PARTNERS boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 318,508 shares of the financial services provider's stock after purchasing an additional 31,354 shares during the quarter. &PARTNERS owned about 0.08% of The PNC Financial Services Group worth $66,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Brighton Jones LLC boosted its holdings in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after acquiring an additional 984 shares during the period. Empowered Funds LLC boosted its holdings in shares of The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock valued at $1,452,000 after acquiring an additional 170 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider's stock valued at $807,000 after acquiring an additional 1,449 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider's stock valued at $34,409,000 after acquiring an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $482,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a "buy" rating and a $250.00 price objective for the company. Morgan Stanley increased their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Finally, Oppenheimer increased their price target on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $246.72.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $234.71 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a fifty day moving average price of $221.67 and a 200 day moving average price of $216.86. The PNC Financial Services Group, Inc has a 1-year low of $172.88 and a 1-year high of $243.94. The company has a market cap of $94.25 billion, a PE ratio of 13.64, a P/E/G ratio of 0.96 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the company earned $3.51 earnings per share. The company's revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.79 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group's dividend payout ratio is presently 39.51%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares of the company's stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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