111 Capital Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

111 Capital purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,487 shares of the financial services provider’s stock, valued at approximately $672,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC grew its position in The PNC Financial Services Group by 7.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 4,245 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 302 shares during the period. Park Square Financial Group LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $68,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $48,559,000. Brooklyn FI LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $410,000. Finally, REAP Financial Group LLC grew its position in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.67.

The PNC Financial Services Group Trading Down 1.3%

Shares of The PNC Financial Services Group stock opened at $174.02 on Thursday. The firm has a market capitalization of $68.84 billion, a PE ratio of 12.66, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The firm’s 50-day moving average price is $165.15 and its 200 day moving average price is $185.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the completion of the sale, the chief executive officer now owns 569,783 shares of the company’s stock, valued at approximately $108,361,330.94. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,638 shares of company stock valued at $2,983,901. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.