Equity Investment Corp Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Equity Investment Corp lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 660,344 shares of the financial services provider's stock after purchasing an additional 82,115 shares during the quarter. The PNC Financial Services Group accounts for about 2.9% of Equity Investment Corp's holdings, making the stock its 11th largest position. Equity Investment Corp owned about 0.17% of The PNC Financial Services Group worth $102,254,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new position in The PNC Financial Services Group in the 3rd quarter worth about $25,000. BKM Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth about $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Down 0.3 %

PNC traded down $0.54 during trading on Friday, hitting $160.35. 1,075,124 shares of the company's stock traded hands, compared to its average volume of 1,421,350. The company's 50 day simple moving average is $155.45 and its two-hundred day simple moving average is $147.55. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The stock has a market capitalization of $63.80 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.82 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate 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 company's revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the business posted $3.98 EPS. Analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.87%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 52.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Monday, May 13th. Jefferies Financial Group dropped their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating for the company in a report on Wednesday, April 17th. Evercore ISI dropped their price objective on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a report on Wednesday, April 17th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $157.02.

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.