US Asset Management LLC Takes $358,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

US Asset Management LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,310 shares of the financial services provider’s stock, valued at approximately $358,000.

Several other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC grew its stake in 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 valued at $28,000 after buying an additional 140 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $28,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

PNC stock traded down $0.09 during mid-day trading on Thursday, reaching $157.12. The company’s stock had a trading volume of 1,558,629 shares, compared to its average volume of 2,033,352. The company has a market cap of $62.50 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The business’s 50 day moving average price is $154.25 and its 200 day moving average price is $145.47. 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 (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.95%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group increased their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Finally, StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $157.02.

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.