Anchor Capital Advisors LLC Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Anchor Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 601.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393,186 shares of the financial services provider's stock after acquiring an additional 337,105 shares during the period. The PNC Financial Services Group makes up 1.6% of Anchor Capital Advisors LLC's holdings, making the stock its 17th largest position. Anchor Capital Advisors LLC owned approximately 0.10% of The PNC Financial Services Group worth $60,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $1,825,000. KPP Advisory Services LLC bought a new position in The PNC Financial Services Group during the 3rd quarter valued at $323,000. AQR Capital Management LLC boosted its stake in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider's stock valued at $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $459,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $295,000. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PNC shares. Jefferies Financial Group reduced their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating for the company in a research report on Wednesday, April 17th. StockNews.com lowered shares of The PNC Financial Services Group from a "hold" rating to a "sell" rating in a research report on Friday. Bank of America raised their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Finally, Morgan Stanley increased their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an "underweight" rating in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and an average price target of $156.63.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares of the company's stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $0.33 during trading hours on Monday, hitting $155.78. The stock had a trading volume of 1,388,066 shares, compared to its average volume of 2,103,941. The company has a 50-day moving average of $152.90 and a two-hundred day moving average of $143.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The company has a market cap of $61.97 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group's revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 earnings per share. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 52.06%.

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.