Annis Gardner Whiting Capital Advisors LLC Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 71.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,414 shares of the financial services provider’s stock after acquiring an additional 590 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Enterprise Financial Services Corp purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $246,000. Frazier Financial Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $674,000. InterOcean Capital Group LLC boosted its stake in shares of The PNC Financial Services Group by 3.9% in the 4th quarter. InterOcean Capital Group LLC now owns 5,312 shares of the financial services provider’s stock valued at $823,000 after buying an additional 201 shares during the period. Davis R M Inc. purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $234,000. Finally, Dai ichi Life Insurance Company Ltd boosted its stake in shares of The PNC Financial Services Group by 34.3% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 37,900 shares of the financial services provider’s stock valued at $5,869,000 after buying an additional 9,671 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

PNC traded down $1.74 during trading on Thursday, hitting $154.76. 319,106 shares of the stock were exchanged, compared to its average volume of 1,944,301. The firm has a market capitalization of $61.58 billion, a P/E ratio of 13.14, a PEG ratio of 3.06 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average price of $155.76 and a two-hundred day moving average price of $148.59. 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 released its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Activity

In other 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 value of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent research reports. Morgan Stanley lifted their price objective on 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. Jefferies Financial Group cut their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 17th. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $157.02.

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.