Norden Group LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Norden Group LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,723 shares of the financial services provider’s stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brookstone Capital Management lifted its stake in shares of The PNC Financial Services Group by 164.5% during the third quarter. Brookstone Capital Management now owns 10,276 shares of the financial services provider’s stock valued at $1,189,000 after acquiring an additional 6,391 shares during the period. Vicus Capital bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $200,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $485,000. Xponance Inc. lifted its holdings in The PNC Financial Services Group by 5.3% in the third quarter. Xponance Inc. now owns 51,156 shares of the financial services provider’s stock valued at $6,280,000 after buying an additional 2,594 shares during the period. Finally, Raymond James & Associates boosted its stake in The PNC Financial Services Group by 10.2% in the third quarter. Raymond James & Associates now owns 1,467,031 shares of the financial services provider’s stock valued at $180,107,000 after acquiring an additional 135,890 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNC. UBS Group increased their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday. Jefferies Financial Group decreased their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Wells Fargo & Company increased 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 note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Trading Up 0.4 %

NYSE PNC opened at $153.94 on Thursday. 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 stock has a 50 day moving average of $153.18 and a 200-day moving average of $144.07. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market cap of $61.24 billion, a PE ratio of 12.93, a PEG ratio of 1.73 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The business 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 PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the business posted $3.98 EPS. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.42% 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.