Lighthouse Investment Partners LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Lighthouse Investment Partners LLC acquired 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 89,650 shares of the financial services provider's stock, valued at approximately $17,289,000.

Several other hedge funds also recently modified their holdings of the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the 4th quarter worth about $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 1.0%

PNC traded up $1.79 during mid-day trading on Thursday, hitting $179.64. The stock had a trading volume of 2,728,847 shares, compared to its average volume of 2,041,376. The stock's fifty day simple moving average is $164.57 and its 200-day simple moving average is $186.36. The firm has a market capitalization of $71.06 billion, a price-to-earnings ratio of 13.06, 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 released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.56%. The PNC Financial Services Group's payout ratio is 45.20%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PNC shares. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. 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 report on Wednesday, April 16th. Citigroup lowered their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Barclays cut their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.67.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the sale, the chief executive officer now owns 571,025 shares of the company's stock, valued at $109,893,761.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares of the company's stock, valued at $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 16,396 shares of company stock worth $2,789,603. 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.