Ted Buchan & Co Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ted Buchan & Co grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,521 shares of the financial services provider’s stock after acquiring an additional 201 shares during the quarter. Ted Buchan & Co’s holdings in The PNC Financial Services Group were worth $1,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. boosted its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on PNC shares. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company lowered their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Finally, Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $205.18.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the transaction, the chief executive officer now directly owns 525,071 shares of the company’s stock, valued at $103,964,058. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 12,420 shares of company stock valued at $2,320,739. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 5.2 %

Shares of The PNC Financial Services Group stock opened at $152.85 on Friday. The company has a fifty day moving average price of $184.93 and a 200 day moving average price of $191.66. 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, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

The PNC Financial Services Group 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.