The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Essex Financial Services Inc.

Essex Financial Services Inc. increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,333 shares of the financial services provider’s stock after buying an additional 277 shares during the period. Essex Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rockline Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,825,000. KPP Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $323,000. AQR Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after acquiring 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 fourth quarter valued at approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Evercore ISI lowered their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $157.02.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4 %

NYSE PNC opened at $153.94 on Thursday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $61.24 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.73 and a beta of 1.16. The firm’s 50 day moving average price is $153.18 and its two-hundred day moving average price is $144.07.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the company posted $3.98 EPS. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

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.