Criterion Capital Advisors LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Criterion Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 206 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other large investors also recently modified their holdings of the business. FMR LLC boosted its stake in The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after buying an additional 893,808 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after acquiring an additional 860,489 shares during the period. Geode Capital Management LLC boosted its position in The PNC Financial Services Group by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after acquiring an additional 171,876 shares during the period. Invesco Ltd. boosted its position in The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after acquiring an additional 484,475 shares during the period. Finally, Northern Trust Corp boosted its position in The PNC Financial Services Group by 2.0% during the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock worth $577,267,000 after acquiring an additional 93,636 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the subject of several research reports. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group reduced their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. UBS Group lifted their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Finally, Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Stock Up 3.0 %

Shares of PNC stock opened at $152.30 on Monday. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The firm has a market cap of $60.59 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The stock has a 50 day moving average of $151.89 and a 200-day moving average of $142.26. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping 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 company 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 earned $3.98 earnings per share. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.07%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

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.