Patrick M Sweeney & Associates Inc. Buys New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Patrick M Sweeney & Associates Inc. bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 2,294 shares of the financial services provider’s stock, valued at approximately $355,000.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 0.7 %

The PNC Financial Services Group stock traded up $1.06 during trading hours on Wednesday, hitting $157.21. The company had a trading volume of 1,254,443 shares, compared to its average volume of 2,038,685. 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 firm has a market cap of $62.54 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a 50-day moving average price of $154.02 and a two-hundred day moving average price of $145.39. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24.

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 for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Analyst Ratings Changes

Several research firms recently commented on PNC. UBS Group lifted their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. 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 for the company in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.02.

Insider Activity

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

About The PNC Financial Services Group

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.