Chesley Taft & Associates LLC lifted its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 80,870 shares of the financial services provider’s stock after purchasing an additional 1,325 shares during the period. Chesley Taft & Associates LLC’s holdings in PNC Financial Services Group were worth $11,669,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PNC. State Board of Administration of Florida Retirement System boosted its position in PNC Financial Services Group by 1.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 745,765 shares of the financial services provider’s stock valued at $93,124,000 after buying an additional 8,068 shares during the period. Pax World Management LLC boosted its position in PNC Financial Services Group by 8.6% during the 2nd quarter. Pax World Management LLC now owns 3,800 shares of the financial services provider’s stock valued at $475,000 after buying an additional 300 shares during the period. Cadence Capital Management LLC boosted its position in PNC Financial Services Group by 2.9% during the 2nd quarter. Cadence Capital Management LLC now owns 18,500 shares of the financial services provider’s stock valued at $2,310,000 after buying an additional 522 shares during the period. Federated Investors Inc. PA boosted its position in PNC Financial Services Group by 27.9% during the 2nd quarter. Federated Investors Inc. PA now owns 703,058 shares of the financial services provider’s stock valued at $87,790,000 after buying an additional 153,251 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its position in PNC Financial Services Group by 138.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 79,000 shares of the financial services provider’s stock valued at $9,865,000 after buying an additional 45,800 shares during the period. 81.49% of the stock is owned by institutional investors and hedge funds.

In related news, insider Robert Q. Reilly sold 19,576 shares of PNC Financial Services Group stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the completion of the transaction, the insider now directly owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,523 shares of company stock valued at $15,392,168. 0.43% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on the stock. Credit Suisse Group reissued a “hold” rating and set a $150.00 price target on shares of PNC Financial Services Group in a research report on Friday, January 5th. Goldman Sachs Group cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Barclays increased their price target on shares of PNC Financial Services Group from $139.00 to $168.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $162.00 target price on shares of PNC Financial Services Group in a research report on Friday, December 29th. Finally, Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research report on Tuesday, December 26th. Sixteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $141.08.

PNC Financial Services Group Inc (NYSE:PNC) traded up $2.77 during trading hours on Wednesday, hitting $147.82. 2,438,200 shares of the stock traded hands, compared to its average volume of 2,603,800. PNC Financial Services Group Inc has a 12-month low of $113.66 and a 12-month high of $149.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $70,330.00, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period last year, the company posted $1.84 EPS. PNC Financial Services Group’s revenue was up 7.7% on a year-over-year basis. equities research analysts expect that PNC Financial Services Group Inc will post 8.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 dividend on an annualized basis and a yield of 2.03%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 22.53%.

ILLEGAL ACTIVITY NOTICE: “Chesley Taft & Associates LLC Acquires 1,325 Shares of PNC Financial Services Group Inc (PNC)” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2018/01/10/chesley-taft-associates-llc-acquires-1325-shares-of-pnc-financial-services-group-inc-pnc.html.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.