Sivia Capital Partners LLC Grows Stock Position in The PNC Financial Services Group, Inc $PNC

Sivia Capital Partners LLC lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 64.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,830 shares of the financial services provider’s stock after purchasing an additional 3,855 shares during the period. Sivia Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $2,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at $25,000. Beacon Financial Strategies CORP purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $35,000. JPL Wealth Management LLC purchased a new position in The PNC Financial Services Group in the third quarter valued at $37,000. Financial Life Planners purchased a new position in The PNC Financial Services Group in the third quarter valued at $39,000. Finally, Cornerstone Planning Group LLC boosted its holdings in The PNC Financial Services Group by 2,100.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 168 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 1.1%

Shares of NYSE PNC opened at $218.52 on Thursday. The company has a market capitalization of $87.75 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The business has a 50-day moving average of $217.24 and a two-hundred day moving average of $213.95. The PNC Financial Services Group, Inc has a 1 year low of $172.73 and a 1 year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.51 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PNC shares. Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Citigroup lifted their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $243.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.