The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 635,739 shares of the financial services provider’s stock after acquiring an additional 20,007 shares during the quarter. The PNC Financial Services Group accounts for about 0.8% of Silvercrest Asset Management Group LLC’s investment portfolio, making the stock its 15th biggest position. Silvercrest Asset Management Group LLC’s holdings in The PNC Financial Services Group were worth $122,602,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $1,352,151,000. Leigh Baldwin & CO. LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth $299,864,000. Schroder Investment Management Group boosted its holdings in The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock worth $265,436,000 after purchasing an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.0%

Shares of NYSE:PNC opened at $179.64 on Friday. The company has a 50 day moving average of $164.67 and a 200-day moving average of $186.29. 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 firm has a market cap of $71.06 billion, a P/E ratio of 13.06, 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

Analysts Set New Price Targets

PNC has been the subject of a number of recent research reports. Citigroup lowered their price objective 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 report on Monday, March 24th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their target price for the company from $206.00 to $202.00 in a report on Monday, March 31st. Barclays cut their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. TD Cowen initiated coverage on The PNC Financial Services Group in a research note on Thursday. They set a “buy” rating and a $233.00 price objective for the company. Finally, Keefe, Bruyette & Woods cut their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was 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 directly owns 569,783 shares of the company’s stock, valued at $108,361,330.94. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,396 shares of company stock worth $2,789,603 in the last quarter. 0.41% of the stock is owned by company 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.